Windfall tax threat on interest profits in banking
Republican leaders propose a windfall profits tax on lending institutions charging rates above inflation. Sen. Ted Stevens and Sen. Howard Baker back a bill taxing 70 percent of the excess. Inflation runs 9.4 percent in early 1981. banks charge 20.5 percent to top borrowers. mortgage rates near 18 percent. The plan hinges on sustained high rates, while deficits rise and Reagan seeks cuts. Separately, 10 of 18 Judiciary Committee members back Sandra Day O Connor for Supreme Court.
MENTIONED IN THIS ARTICLE
Washington
Senate
GOP
Ted Stevens
Alaska
Stevens
Howard Baker
Congressional Budget Office
Senate Judiciary Committee
Sandra Day O’connor
Supreme Court
Reagan
Arizona
Red wagon carries life support for boy
Four year old Jason Sloan with central hypoventilation will go home Nov. 16 to live with his father and 10 nurses. He has spent most of his life in hospital, traveling with a red wagon carrying oxygen tanks attached to a tracheostomy. The plan costs about 8,000 dollars monthly versus hospital care at 250,000 to 300,000 annually.
MENTIONED IN THIS ARTICLE
Princeville, Ill
Jason Sloan
Jason
Jerry Sloan
United States
Children’s Memorial Hospital
Chicago
Debbie Sloan
Sloan
Retire Subcommittee Democrats Challenge SSI Projection
Democrats on the retiree subcommittee challenge the administration’s SSI projections, noting asset limits could block benefits. They cite 1.7 million affected recipients, including 1.3 million minimum-pay eligible pensioners with varied income sources and projected monthly cuts averaging about $50. Alice Rivlin of the CBO explains the diverse group.
MENTIONED IN THIS ARTICLE
Alice Rivlin
Congressional Budget Office
Rivlin
Budget Office
Debate on minimum Social Security benefit and SSI costs
A House hearing examined the minimum benefit share among SSI recipients and the public view of welfare. Admin projections show billions in savings from eliminating the minimum benefit, while critics argue for preserving aid to destitute retirees and caution against using Social Security cuts to fix deficits.
MENTIONED IN THIS ARTICLE
SSI
J. J. Pickle
Texas
Pickle
Myers
Shannon
O'Connor OK seems certain after abortion questions
Supreme Court nominee Sandra Day O'Connor avoided endorsing parental consent for teen abortions and said her personal views would not dictate her votes. She faced a tense exchange with Sen. Denton during five hours of hearings, asserting she will not commit to future court rulings.
MENTIONED IN THIS ARTICLE
Washington
Supreme Court
Sandra Day O’connor
Jeremiah Denton
R-Ala
O'Connor
Denton
Senate Judiciary Committee
Strom Thurmond
R-S.c
Capitol Hill
Clergymen held over gun carries at Windsor border
Twenty three American clergymen attending a Detroit convention were arrested for carrying firearms into Canada authorities said. Canadian customs officials described guns from .357 Magnums to .22 revolvers found during routine searches at the Detroit Windsor Tunnel. Syphilis cases rise in US CDC reports a 33 percent increase in primary and secondary syphilis over three years with 27,204 cases in 1980 up from 20,399 in 1977. Fire marshals attribute lower Manhattan blackout to a faulty transformer switch at Consolidated Edison East Side plant, ruling out sabotage.
MENTIONED IN THIS ARTICLE
Windsor
Ontario
Detroit
Canada
Marc Baillargeon
Detroit-Windsor
United States
National
Centers For Disease Control
CDC
New York
Lower Manhattan
Consolidated Edison
East Side
Odessa American brief item shows delivery notice
A compact notice from the Odessa American lists a delivery item at 122 E Fourth Street Odessa Texas 19760 with a delivery code A 7. The terse entry confirms address and parcel handling details for a local reader.
MENTIONED IN THIS ARTICLE
Fourth Street
Odessa
Weather outlook with scattered storms in Permian Basin
Forecasters predict a 20 percent chance of thunderstorms in the Permian Basin Saturday as a cold front moves through the Texas Panhandle. Temperatures dip to the upper 80s with tonight’s low in the upper 60s, while winds ease from 10 to 15 mph to 5 to 10 mph overnight. Gert remains a major hurricane in the Atlantic, could strengthen, and threatens open ocean.
MENTIONED IN THIS ARTICLE
Permian Basin
Texas Panhandle
Texas
Gert
Atlantic
Bahamas
National Weather Service
Midland Regional
Reagan seeks long term budget cuts across all departments
President Reagan outlines broad new budget cuts with across the board trims for fiscal 1983 and 1984. Departments could face 500 million to 4 billion reductions each year while deficit projections for 1982 linger. Spokesman says total cuts may reach 30 billion in 1983 and 44 billion in 1984, with more possible.
MENTIONED IN THIS ARTICLE
Reagan
Washington
David A. Steckman
Range Administration
Gergen
Also Mentioned on This Page
Congress
O’connor
Ms. Rivlin
James M. Shannon
Dmass
John H. Rousselot
Calif
Commission
Mullican
Railroad Commission
EPA
Atlanta
Tenas
Simo
Daiy
Kam
West Texas
Panhandle
South
High Low
Abilene
Alice
Alpine
Amarillo
Austin
Beaumont
Childress
Darhart
Dallas
de Rio
el Paso
Fort Worth
Galveston
Houston
Longview
Lubbock
Lufkin
Marfa
McAllen
Midland
Palacios
By Michael Putzel
Associated Press
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