Ohio lawmakers push statewide income tax for budget boost
In Columbus the Senate backed a statewide personal income tax plan to raise about 790 million and expand state spending, while the House prepared for a floor vote delayed by party caucuses. The measure, opposed by some as too large, would implement a 5 to 3.5 percent personal tax and a 4 to 8 percent corporate tax, as the state moves from interim budgets toward a full tax-financed biennium ending 1973.
MENTIONED IN THIS ARTICLE
Columbus, Ohio
Senate
House
2 US Copters Downed In Cambodia Operations
Reports from the field say two US helicopters and a light observation plane were shot down during operations in Cambodia. North Vietnam could conquer Cambodia in a week, according to U.S. experts. About 1267 North Vietnamese were claimed killed. No American casualties were reported.
MENTIONED IN THIS ARTICLE
North Vietnam
Cambodia
U.S
Voters split as Lukens and Dennis oppose income tax
In a party line vote Republicans Lukens of Middletown and Dennis of Wilmington opposed the income tax. The pivotal decision came from Senator Clara E. Weisenborn shaping the outcome.
MENTIONED IN THIS ARTICLE
Donald E. Lukens
Middletown
Max Dennis
Wilmington
Major Tax Provisos Passed By Ohio Senate
The Senate approved broad tax measures including a four percent rate on the first 25,000 of corporate income, a higher net-worth charge, and severance taxes on coal salt oil gas and limestone. The package would fund environmental protection with an estimated 6.5 million in revenues, raise insurance and intangibles taxes, hike tobacco and alcohol taxes, and cut real estate taxes by ten percent starting June 1972.
MENTIONED IN THIS ARTICLE
Ohio Senate
Teen Killed Himself in Explosion at Hilltop Site
Steven Douglas Hovey an 18 year old Sunland resident died Wednesday night when about 240 sticks of explosive and 25 electric detonators were found at his grandparents home in Highland Park. Police linked a second cache found nearby while investigating the blast and ruled out suicide or radical affiliations. Hovey had told parents he planned to set off dynamite as he aspired to become an explosives expert in the Army.
MENTIONED IN THIS ARTICLE
Steven Douglas Hovey
Sunland
Tone
Hovey
Highland Park
Four Memphis Officers Charged with First Degree Murder
A Shelby County grand jury indicted Lt Theodore Wilks and three patrolmen Edward Bonham Johnny Roberts and Michael Dougherty along with a city officer on first degree murder charges for the beating death of 17 year old Elton Hayes after a police auto chase The indictments followed a two year long probe and three days of testimony The case sparked days of racial violence and arson as Hayes mother spoke of her loss describing Christmas plans now emptied by her sons death
MENTIONED IN THIS ARTICLE
Tenn
Shelby County Grand Jury
Elton Hayes
Hayes
Roy C. Nixon
Theodore R. Wilks
Egrie
Edward M. Bonham
Johnny L. Roberts
Memphis
Michael J. Dougherty
District Attorney's
Alonzo McGowan
New Car Excise Tax Refunds Due After Tax Cut
Congress sent a tax cut bill to President Nixon totaling 15.8 billion over three years. If signed, auto buyers who purchased in the last four months will get refunds around 200 dollars per car. The measure repeals the 7 percent auto excise tax retroactive to August 16. It raises personal exemptions and expands the standard deduction, aiding about 25 million low and middle income individuals and wiping out taxes for 2.8 million. The plan includes adjustments to withholding and does not restore the 1972 campaign finance start date, which Kennedy supports as reform. The White House is opposed to the public financing plan and expects Nixon to seek its nullification.
MENTIONED IN THIS ARTICLE
Washington
Congress
Nixon
Senate
Com
House
Kennedy
America
White House
Typical Tax Breaks for Individuals and Married Couples
Tax figures show 1971 and 1972 liabilities and reductions for single filers and married couples including those with children. Data presents income levels of $5,000 $10,000 and $15,000 and outlines liability and bill reductions across years, highlighting changing tax cuts.
Major provisions in new tax bill to Nixon this week
The bill includes higher personal exemptions to 675 in 1971 and 750 in 1972, a higher minimum standard deduction of 1300 in 1972, and a 15 percent percentage standard deduction with a 2000 ceiling in 1972. It repeals the 7 percent auto tax and 10 percent truck tax retroactive, reinstates the 7 percent investment credit, and allows domestic international sales corporations with 5 percent export tax deferral. Also, 20 percent accelerated depreciation and child care deductions up to 4800 yearly for households earning 18000 or less.
MENTIONED IN THIS ARTICLE
U.S
Also Mentioned on This Page
Ohio
Robert Netzley
Laura
Sen
Howard Cook
R-1
Toledo
Fourth Conference
Gilligan
Cook
Soth
A. G. Lanclone
Bellaire
Rob
CIO
Frank King
United Auto Workers
Ray Ross
King
Ross
Calabrese
Democratic
Board of Election
New London
Conn
Department of Bulletion
Rome
Clara E. Weisenborn
Teen
Ann Landers
Valley News
Women’s News
Edward M. Kennedy
Dmass
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!