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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Jan 09, 2003
Page
1
Congress and President Bush debate future tax cuts as 2002 returns arrive. Taxpayers face new incentives for college savings and retirement, electronic filing, and simplified reporting. The 2001 tax cut's 441 provisions begin phased in, affecting credits, deductions, and reporting for many filers.
President Bush signed hastily passed legislation extending unemployment benefits for 2.5 million victims of a weak economy, a first act of a Republican led Congress. Democrats said the measure falls short, but Bush said it would bring comfort to those seeking work. The bill extends 13 weeks of benefits after exhausting state aid. Senate leaders were pictured in the Cabinet Room with other lawmakers.
Houston Conoco Phillips officials said they expect to charge 1.3 billion against earnings in the fourth quarter to cover costs tied to shedding a substantial portion of its service stations and pulling out of certain markets. The move follows the August merger of Conoco and Phillips, noted by analyst Fadel Gheit.
A vacant state office building downtown is being converted into the Permian Endoscopy Center. The project transforms the space into a state-of-the-art Ambulatory Surgical Center and Medical Clinic, expanding gastroenterology services and patient access in Midtown Plaza.
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