Program of Tax Reform Unveiled
Washington AD report on a new tax reform package proposes closing loopholes, a minimum taxable income, limits on artificial losses, property tax relief for the elderly, an investment tax credit for oil and gas, a college tuition credit, and a simplified form 1010S aimed at about 20 million filers. Treasury Secretary Shultz says no general tax increase, with estimates of net revenue changes and calls to curb shelter markets. The plan would require paying tax on at least half of revenue under a minimum taxable income proposal.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Shultz
House
Ways and Means Committee
Last Day for Passage of Control Bill
Washington AP reports that price controls die at midnight unless Congress approves a one year renewal of presidential authority to regulate the economy. A Senate vote blocked by a postcard voter registration fight, with Sen. Gale McGee holding firm to his measure. Republicans pivoted to accept amendments after administration assurances, while fears persist that voluntary Phase 3 controls may falter and prices could spike beyond rollback capacity.
MENTIONED IN THIS ARTICLE
Washington
Congress
Senate
Shultz
Sen
Gale McGee
Iin
McGee
Nixon
William Praxmire
Tax Changes Propose Limits On Loss Offsets And Elderly Credits
Proposals would end using losses from one income to offset unrelated earnings. Individuals except farmers would face limits with losses on property offsetting only future property earnings. Elderly taxpayers would gain refundable property tax credits up to 300 dollars and an age credit reducing tax by about 200 million overall. A simplified tax form would add a child care deduction up to 4800 dollars and phase out for higher incomes. Cont d Tage 3 Col dd.
MENTIONED IN THIS ARTICLE
Shultz
Congress
State Income Tax Returns Due in Des Moines
Des Moines residents face a deadline Monday midnight for filing state income tax returns. Postmarks after midnight may incur penalties. filers should submit promptly to avoid fees.
MENTIONED IN THIS ARTICLE
Des Moines
Rogers Defends Cambodia Raids As U S Justifies Authority
In a Senate hearing the U S secretary of state introduced a document titled Presidential Authority to Continue U S Air Combat Operations in Cambodia It argues Article 20 of the Vietnam peace agreement links Laos and Cambodia to Vietnam as a single conflict The testimony notes a good chance of ceasefire progress in Vietnam and cites heightened Cambodian military offensives as a reason for continued air support The exchange also covers presidential bombing authority and a prior letter from Senator Fulbright questioning the presentation timing
MENTIONED IN THIS ARTICLE
Washington
Cambodia
State Hagers
Senate Foreign Relations Committee
U.S
Laos
Vietnam
Eite
Indo- Mina
Rogers
Fulbright D-Arko
Fulbright
State Department
Department
Cambodians Retake Area Across from Phnom Penh
Cambodian government reports its troops retook a stretch of the Mekong river near Phnom Penh from Viet Cong forces. A helicopter was shot down, with nine occupants killed, including pilots. In the northwest, fighting continued as government forces claimed gains and casualties on both sides.
MENTIONED IN THIS ARTICLE
Pinom Peni
South Vietnam
Commission of Control
Mekong
Phnomt Penh
Angkor Wat
Tutu
Witsatne Utne
Caps
Arey
Khiat
Phnomlatter
Penh
Cong
Nairn
Tess
Antil
Orly
Inge
Els
U.S
Duncan Aoetiwest
Licopters
Choy Neang
Angkor
Mississippi Flood Crest Forms as Levees Halt Sandbagging
The Mississippi River begin to flatten after days of levee sandbagging north of St. Louis while cresting and flooding cover more than 10 million acres across the 1300 mile route. Estimates place damage over 300 million dollars with about 23 000 evacuated from Hannibal to the Gulf of Mexico as forecasts show gradual falls in southern Missouri by Monday.
MENTIONED IN THIS ARTICLE
Associated Press
Mississippi River
St. Louis
Missouri
Morehan
Mississippi
Army Corps of Engineers
Hannibal
Gulf of Mexico
National Weather Service
The
Weather Service
Hannital
St. Louts
Missouri River
Jefferson City
Chuckie on Economy and Money Woes
The quip suggests modern wealth and poverty split: when rich, it’s about paper. when broke, it’s about scarcity. A playful line reflecting financial tension and social contrast in everyday life.
Kissinger To Visit Moscow For Talks
Washington AP reports Henry Kissinger will travel to Moscow in May for discussions with Soviet leaders on a broad agenda. The trip aims to pave preparations for the Nixon Brezhnev summit, with exact timing not announced but expected around June.
MENTIONED IN THIS ARTICLE
Kissinger
Moscow
Washington
APY
Lepsidetla
Henry Kissinger
U.S
Communist Party
Leonid Brechnev
Nixon
Tune
Nixon Accepts Resignations of Kleindienst Haldeman Ehrlichman Dean
President Nixon on Monday accepted the resignations of Attorney General Kleindienst and White House aides Haldeman Ehrlichman and Dean. Elliott Richardson was named acting attorney general and top coordinator of federal Watergate investigations. The statement said Kleindienst asked to be relieved to step down from head of the Justice Department.
MENTIONED IN THIS ARTICLE
Washington
Nixon
Atty
Duighard Kleindienst
Haldeman
John Ehrlichman
John Dean
Defense
Elliot Richardson
Act’ing
Watergate Cononiracy
Kleindienst
Justice Department
Richardson
Senate
Ehrlichman
White House
Dean
Hale
Deman
Leonard Garment
Alc
Garment
Barry Goldwater
Rariz
Hichard Kleindienst
Bill Scherle
Browa
Department of Aldeman
Hugh Scott
Pennsylvania
Nixon to address nation on Watergate probe tonight
President Nixon will speak to the nation by radio and television at 3 PM CDT to discuss the Watergate investigation. NBC, CBS, and ABC reported that the inquiry may implicate individuals linked to Nixon, with Richardson named to become attorney general and lead coordination of federal agencies in uncovering the truth.
MENTIONED IN THIS ARTICLE
New York
Nixon
CDT
NBC
CBS
ABC
Also Mentioned on This Page
Ada Ld
Brandt
Willy Brandt
Dulles International Airpork
Hogers
Ife
Wiese
South
Paris
Trogers
Southeast Asia
Nocers
Phnom Penh
Ocing Fnal Poruet
Chuckie
Pree Eer
Dilfeutt
Weir
Ziegler
Voldeman
Ony
Jepal
yHe
Richard Kleindienst
Dohn Ehrlichman
H. R. Haldeman
John Daan
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