Tax Bill Clears Congress to End Year Actions
The massive tax reform bill clears both houses, heading to the White House for signature. Senate approval on the Philadelphia plan allows limited job programs for African Americans on federally funded construction projects, with debate over veto threats and holiday adjournment.
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Tax Suit Claims War Illegal in Brooklyn Court
Walter G. Pietsch of Queens files a federal suit challenging the 1968 surtax used to fund the Vietnam War. He seeks an injunction to stop tax collection and to declare the war illegal. Judge George Rosling orders briefs from Pietsch and respondents including President Nixon and Treasury officials.
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Louis Rosenthal
Tax Reform Effective Dates Listed By Year
Washington AP reports key dates for tax relief provisions from the reform bill. Starting Jan 1 1970 the surcharge drops from 10 to 5 percent and the low income allowance rises to 1100 dollars. July 1 1970 ends the surcharge and increases dependents exemption to 650 dollars. Jan 1 1971 raises standard deduction to 13 percent up to 1500 and raises low income allowance to 1050 with new single rate, Jan 1 1972 increases personal exemption to 700 and standard deduction to 14 percent with 2000 ceiling and earned income rate to 50 percent, Jan 1 1973 lifts personal exemption to 750 and standard deduction to 15 percent with 2000 ceiling.
Rise Seen in Federal Civilian Pay Costs
The Tax Foundation reports civilian pay and benefits totaled about 26.3 billion dollars in the year ending June 30. Costs are projected to rise to 30.4 billion dollars in fiscal 1970.
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Bud) Steller
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