Conferees Extend Business Tax Cuts and Home Deductions
Congressional tax negotiators extend the present 10 percent investment tax credit through 1930 and keep it temporary. They also keep the corporate rate adjustments through ISUT, with a tiered structure. A $220 million yearly gain comes from restricting home business deductions, requiring exclusive business use and client access. Bribes in foreign deals would be taxable under the new plan.
MENTIONED IN THIS ARTICLE
Washington
Congressional
Senate
Senate-House
Treasury
ISUT
Emmy Advances Toward Mid-Atlantic as a Hurricane
Hurricane Emmy moves on an easterly track toward the mid- Atlantic with winds near 80 mph. It was upgraded to the third hurricane of the year and is about 525 miles southeast of Bermuda, forecasters warn of an erratic course. Belle and Candice are referenced as earlier season storms with land impact and limited threat.
MENTIONED IN THIS ARTICLE
Miami
Emmy
mid-Atlantic Ocean
Bermuda
Gil Clark
National Hurricane Center
Belle
Long Island
N.Y
Candice
North Atlantic
Howe Seeks Voters Opinions On Political Future
Rep. Allan Howe faces a Sept 3 decision on whether to stay in his bid for a second term after two convictions for soliciting sex acts. He asked constituents to share views as Democratic leaders weigh replacing him on the ballot if he withdraws. Howe called the verdicts swift and said he was appalled by the proceedings.
MENTIONED IN THIS ARTICLE
Salt Lake City
Allan Howe
Congress
Utah Democrat
Democratic
Justin Stewart
Howe
Stewart
Democratic Central Committee
Utah
State Central Committee
Salt Lake
Sub Snags Net of 2 Boats in Tsushima Strait
An unidentified submarine submerged in the Tsushima strait snagged nets from two Japanese fishing boats 40 miles northeast of Tsushima island. The trawlers cut free and abandoned their gear after 20 minutes as the 58 ton ships faced sinking threats. Officials say the sub did not surface and may have left the area.
MENTIONED IN THIS ARTICLE
Tokyo
Tsushima Strait
Japan
Korea
Maritime Safety Agency
Tsushima Island
Defense Agency
Soviet Union
Vladivostok
Japan Sea
House Okays Student Loan Program With Expanded Limits
The House approved a guaranteed student loan bill sent to the Senate by 391 to 3. It raises annual income ceilings to 20 000 then 25 000, adds a five percent subsidy to lenders, extends graduate limits to 15 000, and includes a one year repayment moratorium and bankruptcy protections for five years.
MENTIONED IN THIS ARTICLE
Washington
House
Senate
Treasury
End Seen Near for Attica Prison Strike
Attica state prison inmates in New York enter the fourth day of a protest that left 43 dead in 1971. Most prisoners refuse meals and work, while discussions among inmates indicate an ending may be in sight.
MENTIONED IN THIS ARTICLE
Attica
N.Y. Upi
Attica State
Giscard Denies Early Elections Amid Barre Cabinet Move
Paris reports say President Giscard d Estaing rejects talk of early elections after naming Raymond Barre 52 to form a new cabinet. Barre, a monetary expert, aims to lift France from recession and inflation. franc strengthens against the dollar. The left and unions condemn Barre as rightist and vow renewed opposition.
MENTIONED IN THIS ARTICLE
Paris
UPI
Valery Giscard d
France
Barre
Giscard
Lsbor
Communist Party Political Bureau
Swedish writer Eyvind Johnson dies in Stockholm
Swedish novelist Eyvind Johnson who wrote vivid lumberjack tales and was a Nobel co laureate in 1974 died Wednesday in Stockholm. The AP report notes his contribution to literature and his recognition among Sweden’s literary figures.
MENTIONED IN THIS ARTICLE
Stockholm
Sweden
Eyvind Johnson
Senate Votes To Open National Forests to Clearcut Logging
The Senate voted without dissent to permit private companies to clearcut national forests under government permits. The measure would rewrite the Agriculture Department charter and overturn recent court interpretations of the 1897 forest law.
MENTIONED IN THIS ARTICLE
Senate
Washington
House Agriculture Committee
Forest Service
Agriculture Department
Also Mentioned on This Page
Vedor Rapids
Home Office
Mid-Atlantic
Sears
Sears, Roesuck and CO
Lindale Plaza
Cedar Rapids
Owa
Landscaping Service
Earl May Garden Centers
Dandelion
Picker
EAAAR
Garden Center
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