Senate Approves Largest Tax Cut in U.S. History
The Senate pas ses a 60 29 vote a 33.1 billion tax cut package to spur the economy. It would provide $120 to $240 rebates for most families, a $100 Social Security bonus, a $40 tax cut in 1975, and an optional deduction based credit mainly for families under $20,000 income who itemize. The measure, which also repeals 3.8 billion in corporate breaks, is sent to a House Senate conference to reconcile with a 19.9 billion House bill.
MENTIONED IN THIS ARTICLE
Washington
Senate
House
Ford
Senate Tax Bill Key Provisions and Credits
The measure outlines rebates of 10 billion dollars on 1974 taxes and a 120 to 240 dollar per family relief, plus an optional 200 per person tax credit for 57 million taxpayers improving the value over exemptions. It includes a 4 percent cut on the first 4000 of income, a $1.5 billion work bonus for lower income workers, a 1 billion home purchase credit at five percent up to 2000, 150 to 200 million in extra jobless aid, and a 3.4 billion across the board 100 bonus for Social Security or railroad retirement checks.
Senate Passes Massive Tax Cut Bill With Rebates Chart
The Senate early today approved a sweeping tax cut totaling 33 billion dollars, with reconciliation planned against a 20 billion dollar House version. A chart compares rebates under both bills and indicates final figures likely fall between the two.
MENTIONED IN THIS ARTICLE
Parison
Maine governor Longley graded mixed by shoppers survey
A small, nonscientific survey at a Biddeford shopping center shows Maine Governor James Longley receives varied opinions after three months in office. Respondents range from praising his courage to calling him a crackpot, with younger interviewees generally more favorable.
MENTIONED IN THIS ARTICLE
Maryline
James Longley
Maine
Jeanne Etzler
Forest St
Biddeford
Anna
William Sheehan
Beacon Ave
Sheehans
Sheehan
Mildred
Consalvo
Langley
David Bergeron
Elm St
Boucher
Gilbert Boucher
Beach Recall Hearing Delayed By Justice Wernick
Old Orchard Beach councilor John Bird voices disappointment as the recall hearing is moved from March 25 to April 21 by Maine Supreme Court Justice Sidney Wernick. Briefs are to be filed within 30 days, per the court. Locals note signatures surpassed requirements and question political timing.
MENTIONED IN THIS ARTICLE
Peg Welch
Old Orchard Beach
John Bird
Sidney Wernick
Maine Supreme Court
Thomas Lee Sr
Lee
Portland
Rees and Mooers
Rees
Mooers
Justice Wernick
Bird
OOB
Farmer To Consumer Protest At Scarborough Market
A Scarborough farmers market hosts a National Farmers Organization event to sell ground beef cheese and potatoes directly to consumers. Organizers say retail prices hide profits of chains and wholesalers, urging consumer support for higher prices to aid family farmers amid rising costs and debt while noting consumer interest remains mixed and most attendees seek lower prices.
MENTIONED IN THIS ARTICLE
Scarborough
National Farmers Organization
Aets Organization
Floyd Eller
New England Sales
Eller
Willard Douglas
Willard
Stafford Farms
Ethiopians End Monarchy After Coup
Ethiopia’s leftist military government abolishes the 3,000-year monarchy ending Haile Selassie’s reign. Selassie deposed Sept. 12, Asfa Wossen named crown prince but later annulled. The council promises a future government but provides no details. Selassie, under house guard, was a revered but aging ruler. Separately, Khmer Rouge rocket fire hits Phnom Penh airport injuring a DC-8 and a C-130 amid aid deliveries.
MENTIONED IN THIS ARTICLE
Addis Ababa
Ethiopia
Sheba
Haile Selassie
Selassie
Asfa Wossen
Phnom Penh
Cambodia
Bangkok
Nitrate Contamination Tests Under Way in Saco Wells
State health officials and the DEP tested 33 Buxton Road wells in Saco for nitrate pollution with results due within two weeks. Initial detections appeared last fall in the Bucci and Campbell homes, prompting water testing citywide and consideration of extending water mains to the area.
MENTIONED IN THIS ARTICLE
Buxton Road
Saco
State Department of Health and Welfare
Health and Welfare
Department of Environmental Protection
DEP
Kenneth Bucci
Maynard Campbell
Buccis
Gerald Bates
John Dexter
North
Dexter
DEP and Health and Welfare
Buston Road
Gardner Hunt
Raymond Dupuis
Theniversity of Maine At
Orono
Francis Stevens
Dupuis
IRS Keeps Forms Simple This Year
This year the IRS did not enact radical changes to income tax forms. Officials say the forms remain straightforward after prior simplifications, with minor adjustments announced to ease filing for taxpayers.
MENTIONED IN THIS ARTICLE
IRS
Also Mentioned on This Page
Charles H. Percy
America
Congress
Russell B. Long
D-La
Senate Finance Committee
Long
Gov. Longley
Beach
Paul Baillargeon
St. Joseph's School
Farmer-To-Consumer
Kathleen O'Connell
Wossen
Military Advisory
Saco Jaycees
Jaycee
Main Street
Saco Jaycee
Leroy Waycott
Dick Danforth
U.S
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