Senate OKs watered tax bill after two weeks of debate
The Senate approved a $1 billion annual investment credit aimed at encouraging modernization, with most companies allowed to deduct up to 7 percent of spending. The plan to withhold taxes on dividends and interest was removed, despite administration hopes to fund losses. Conference talks will iron out roughly 200 differences between chambers.
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Fla Work Stop Delays Jet Flight
A flash work stoppage at Idlewild Airport delayed a Pan American jet from San Juan by 15 minutes. Mechanics, service personnel, and port stewards walked off as the jet arrived, one spokesman said.
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