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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 23, 1987
Page
1
Lead story fragment reports Boilermakers heading to Iowa City for a Hawks game with partial box notes. Mentions Sue Hempstead scoring 21 to 14 against Cedar and references to Mississippi Valley and an Eastern Iowa film piece with interviews and a stunt actor silhouette.
Fragmentary OCR text shows a closing note about life becoming an institution and the effort to stay out. The readable parts mention quotes about life’s progression and a humorous aside. The source lacks clear dates names or locations to ground a fuller summary.
President Reagan said he is willing to discuss a tax increase with congressional leaders to reduce the federal deficit while noting no signs of a recession amid a battered stock market. He projected a Gorbachev visit this year to sign a nuclear arms treaty, defended U S naval presence in the Persian Gulf, and reported Nancy Reagan’s recovery from breast cancer surgery.
Wall Street markets cut early hours over two days as computer trade backlogs mount. The Dow fell 77.42 to 1950.43 amid a broad selloff and high volume, with NYSE urging firms to curb proprietary computer trading.
An Iranian Silkworm missile struck Kuwait offshore oil terminal Sea Island, starting a fire and wounding several people. Five were wounded with one hospitalized. casualties were low due to no ships loading and fewer workers on duty.
Nobel literature prize goes to Joseph Brodsky, exiled from the Soviet Union, now a U.S. citizen living in New York. The Swedish Academy praising his poems for clarity and intensity, noting his work in Russian and English and translations into many languages. He is among the youngest laureates at 47 and was described as combining Russian heritage with American freedom.
Iowa lawmakers evaluate a tax reform package that would raise 868.8 million and cut the top rate from 13 percent to 9.98 percent by tying into federal changes. Senate leaders see no issues and may trigger a special session if Branstad agrees. Committees plan to start Monday with passage possible after a Tuesday session.
The proposal would raise about 868.8 million dollars, reduce tax brackets from 13 to 9, and roll back rates so the top rate falls from 13 percent to 9.98 percent. It would maintain favorable capital gains treatment up to 17,500 dollars and double the exemption for single heads of households. The plan aligns Iowa tax code with recent federal changes.
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