Alternative capital gains plan unveiled in Congress
Representative Dan Rostenkowski unveiled an alternative capital gains tax plan aimed at reconciling Democratic divisions. The proposal indexes gains for inflation for assets held one to five years to cut taxes on long term investments, would raise about 1.2 billion in year one but cost 136 million over five years, and applies to assets acquired after July 31, 1989.
MENTIONED IN THIS ARTICLE
Washington
UPI
Dan Rostenkowski
House
Ways and Means Committee
Rostenkowski
D-Ill
Republican Committee
Treasury
Nicholas Brady
Richard Darman
Aides
Congress
Bush
Progress reported in U S Soviet arms talks in Geneva
U S and Soviet negotiators reported solid progress on 50 percent cuts in long range nuclear weapons at the latest round. Richard Burt and Yuri Nazarkin cited major problems remains, including Star Wars space defense, verification of sea launched missiles, and monitoring mobile land based missiles.
MENTIONED IN THIS ARTICLE
Geneva
UPI
U.S
Richard R. Burt
Yuri Nazarkin
United States
Moscow
Burt
Nazarkin
Arafat vows Palestinian state a stone’s throw away
In Tunis, Yasser Arafat opened the PLO’s fifth Fatah congress telling about 1,000 delegates from 100 countries that a Palestinian state is near and promising not to backtrack. He defended peace efforts while pledging continued pressure on Israel amid hardline opposition.
MENTIONED IN THIS ARTICLE
Tunis
Tunisia
UPI
PLO
Yasser Arafat
Fatah
Arafat
Palace of Congress
Algiers
Israel
New charges prepared against Gingrich
Rep. Bill Alexander says he plans an amended ethics complaint against Rep. Newt Gingrich, alleging as many as 200 additional House rules violations. The move follows an April complaint over funding for promoting Gingrich’s Window of Opportunity and reports on office pay policies. The ethics panel may open an investigation when Congress returns in September after an August recess.
MENTIONED IN THIS ARTICLE
Washington
UPI
Bill Alexander
D-Ark
House Ethics Committee
Newt Gingrich
R-Ga
Alexander
Gingrich
House
Congress
Dixon
Committee On
Georgia
Chicago
Jim Wright
Texas
Ethics Committee
Atlanta Business Chronicle
East Germans seek emigration via West Berlin missions
About 230 East German citizens have taken refuge in West German diplomatic missions in East Berlin to press authorities to permit emigration to the West. Numbers in Bonn, Budapest, and Prague missions total 230 with 80 in Bonn, 130 in Budapest, and 20 in Prague.
MENTIONED IN THIS ARTICLE
West Hamburg
West Germany
UPI
East Berlin
Bild Zeitung
Hamburg
Bonn
Budapest
Hungary
Prague
Czechoslovakia
CME
Chicago
Chicago Mercantile Exchange
Chicago Board of Trade
Richard Thornburgh
South Asia
Geneva
API
India
Pakistan
Nepal
Bangladesh
Sri Lanka
Society
Kailish Satyarthi
U.N. Human Rights Commission
Rubber chock suspected in Piedmont jet incident
Federal investigators focus on a hard rubber chock found in the wheelwell of a Piedmont Airlines Boeing 737-400 as the possible cause of landing gear failure during a landing at Greensboro High Point Winston-Salem Airport. No injuries were reported among 101 passengers and six crew.
MENTIONED IN THIS ARTICLE
Greensboro
N.C
UPI
Federal Aviation
Piedmont Airlines
High Point
Winston-Salem
David Shipley
Usair
National Transportation Safety Board
Freedom Tour teens allege racism during civil rights trip
A group of Michigan teenagers on a three week civil rights pilgrimage across the South say they faced racial prejudice in a dime store in Birmingham and in Albany Georgia. Detroit area teen Ericka Walls, 17, said she was discriminated against for being black as the tour aimed to teach them about the civil rights movement.
MENTIONED IN THIS ARTICLE
Birmingham
Ala
UPI
Michigan
Albany
Detroit Area
Ericka Walls
Hurricane Dean nears Puerto Rico amid watches dropped
Thunderstorms with high winds form ahead of a cold front in the north central U S as Hurricane Dean moves toward Puerto Rico. Watches were dropped from Martinique to Guadeloupe, with a Dominican Republic watch possible as the hurricane travels west. Reports of 77 to 78 mph winds in North Dakota and 3.5 inches of rain in Lakota. Thunderstorms stretch across Minnesota, North Dakota, South Dakota and eastern Colorado. Remnant storms from Chantal extend from Oklahoma to Texas with flash flood watches in western Oklahoma.
MENTIONED IN THIS ARTICLE
Dean
Puerto Rico
Martinique
Guadeloupe
National Hurricane Center
Dominican Republic
Minnesota
North Dakota
South Dakota
Colorado
Chantal
Oklahoma
Texas
The
Weather Service
Illinois forecast and lottery results from Dixon
Dixon reports the Illinois forecast through Monday with thunderstorms possible and a cooling trend from the upper 80s to 90s Saturday to the 70s by Monday. In Chicago, UPI notes a 6 million dollar Lotto grand prize and drawing numbers 9 5 4 for Illinois State Lottery.
MENTIONED IN THIS ARTICLE
Chicago
UPI
Illinois
Noon commodity quotes from Merchants Trading Co
Live cattle and hogs futures shown for August through February with prices for pork bellies feeders soybeans corn wheat and related grain products. Commodity items include metals and energy like gold cotton silver oats and T bonds with various months listed.
MENTIONED IN THIS ARTICLE
Merchants Trading Company
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Journal of the American Medical Association
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Dixon Telegraph
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