Tax overhaul would cut some, raise others across households
The plan's tax relief may vary widely by earnings and family size. A two earner couple with two children earning 40 000 could see a 15 percent cut in 1988 while a 65 plus retired couple with 24 000 income could face a 29 percent tax. A no child two earner couple earning 100 000 would drop 1 064 dollars. The compromise bill was completed by negotiators.
MENTIONED IN THIS ARTICLE
Washington
Congress
Joel M. Walters
Grant Thornton
Walters
Local governments warn of higher costs from tax overhaul
Bluefield officials say the tax overhaul will raise operating costs for state and local governments with the middle class facing the biggest bite. Tax free municipal bonds may lose some appeal as interest rates rise to offset lower federal taxes, potentially slowing major programs funded by bonding. Local leaders urge caution as public improvements could become more expensive and slower.
MENTIONED IN THIS ARTICLE
Bluefield
Art Mead
Gary Cornwell
Brown, Edwards and Co
Mead
Fred Burton
Soviets extend nuclear test halt to next January
Mikhail Gorbachev announced a further extension of the Soviet yearlong underground nuclear testing pause to January 1. He urged the United States to join in a permanent ban, while Washington rejected the move as a public relations gesture and insisted testing is needed for weapon development.
MENTIONED IN THIS ARTICLE
Moscow
Mikhail S. Gorbachev
Soviet Union
Gorbachev
United States
Washington
Factory use rate falls to 1983 low in July
U S factories operated at 78.2 percent of capacity in July, the third straight drop and the lowest rate since 1983. Analysts cite steel strikes and tax legislation as dampening factors while experts differ on near term recession risk. Auto plants saw a 3.4 percent decline in July use.
MENTIONED IN THIS ARTICLE
Washington
U.S
David Wyss
Data Resources Inc
Lexington
Mass
Federal Reserve Board
Michael Evans
Evans Economics
Charley's grand opening and looming foreign auto threat
Detroit automakers prepare for a flood of new foreign offerings over the next three to four years as global manufacturers seek a larger share of the American market, the world's most lucrative for car sales. The shift signals a fresh assault on GM Ford and Chrysler as they recover from the early 1980s Japanese competition.
MENTIONED IN THIS ARTICLE
Detroit
America
Globe
General Motors
Ford
Chrysler
Nobel laureates urge Supreme Court to strike down creationism law
Seventy two Nobel Prize winners and 24 scientific organizations urged the Supreme Court to strike down Louisiana's 1981 law that requires teaching creationism alongside evolution in public schools. They argued creation-science is religion and not science, risking miseducation and a false science-religion conflict. The brief, led by Murray Gell-Mann, notes evolution's view of Earth’s age and gradual life development, while creation-science ties to a 6,000 year Genesis narrative.
MENTIONED IN THIS ARTICLE
Washington
Supreme Court
Louisiana
High Court
Murray Gell-Mann
California Institute of Technology
Earth
5Th
U.S. Circuit Court of Appeals
Christian B. Anfinsen
Accu-Weather Forecast And High Bills Highlight Tuesday Notes
Cloudy with some sun and a shower expected today. high near 76. Tonight remains mostly cloudy with a low around 62. Jim Kelly signs a five year contract with the Buffalo Bills worth about 7.5 to 8 million dollars making him the NFL's highest paid player at roughly 1.5 million per year. The Soviet Union ends its first formal talks with Israel after 90 minutes. Chief Justice Burger criticizes lawyers who solicit clients, with mixed reservations.
MENTIONED IN THIS ARTICLE
Jim Kelly
NFL
Buffalo Bills
Kelly
Soviet Union
Israel
Supreme Court
Warren E. Burger
Also Mentioned on This Page
Soviets
N.Y. Times News Service
Reagan
Larry Speakes
Mikhail Gorbachev
Manteo, N.C
Charley
Punch
mid-Atlantic
Story
Peeree
CREO
Dear Abby
Eeeerers Reeronseras
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