01 Dec 1977
Page 1
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Newspaper
Monroe News Star
Location
Monroe, Louisiana, United States of America
Date
Dec 01, 1977
Page
1
Thursday's Digest notes a Chapter 13 option as a little used bankruptcy provision in a three part consumer credit series. Also mentions a Ruston banker jailed for failing to produce subpoenaed records and other brief items including South Africa politics and a deadly fire event.
A teen proposes a bargain to his parents to cover college costs in exchange for retirement funds, presenting a humorous take on future financial planning.
Energy conferees dismissed a Senate backed proposal to guarantee seniors 62 and older the lowest electric rates, arguing the measure would be unnecessary if a tax credit for elderly poor passes. The move follows mixed support for Carter energy plans amid doubts over a crude oil tax and broader concessions to industry.
A full scale mockup shuttle orbiter built at Marshal Space Flight Center is moved from a hangar in Huntsville Alabama to a test stand to simulate the Enterprise arrival route in March. The model matches the Enterprise in size and weight for engineering checks.
In Tripoli Libya leaders Boumedienne Assad Khadafy Arafat and Iraq's Ramadan join a rejectionist summit sparked by Anwar Sadat's Israel trip. Khadafy in uniform welcomes guests as JANA pledges to embody Arab will against imperialist Zionist plots and a deceitful settlement.
Twin Cities readers extend birthday wishes to Todd Holloway turning 11 today. He is a fifth grader at Jack Hayes School and son of Diane Holloway of Monroe and Roy Holloway of New Orleans.
The 45th annual Goodfellows Drive aims to raise 20000 for needy families in Monroe and West Monroe. Residents request aid in writing to the News-Star-World, with all requests investigated for validity and donations sent to the Goodfellows care of the newspaper.
Senate Republican Leader Howard Baker endorsed President Carter's plan to reduce taxes soon while deferring major tax code changes. He called for an equitable, adequate and early tax cut and pledged GOP support to push the proposal. Carter said early 1978 would see substantial tax reductions with revisions to follow. House reaction praised the timetable, with Ullman noting tax cuts should accompany reform and Vanik urging only modest present changes while favoring future broad reform.
About 240000 federal workers risk receiving only one week of pay on December 13 as Congress fights over abortion funding. A temporary payroll measure expired at midnight and a new interim continuing resolution is eyed for December 8 or later. House Speaker ONeill and appropriations chairs Magnuson Mahon work to resolve the stalemate.
The GAO finds a bias in COLA rules that adds millions to pensions. About 92,000 retirees are facing an estimated 800 million dollars extra over 40 years due to applying cost of living increases to all active and retiring civil servants. The report warns this quirk threatens pension system viability and fairness.
Oil well near Winnfield in Winn Parish Louisiana began free flow of gas and oil after weather delayed access. Justiss Mears Oil Company supervisor K C Nichols said the situation poses no serious risk but Red Adair’s firm is on alert in case ignition occurs.
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