Administration mulls limits on itemized tax deductions
Treasury Secretary Blumenthal tells Senate Finance Committee the Carter administration will study capping itemized deductions to simplify the tax system. A change could raise taxes for many who itemize or push millions away from itemizing, aligning with Sen. Long’s push for fewer taxpayer errors and IRS workload. Blumenthal backs compromise with the Senate while Carter warns of veto if bill remains unacceptable. He faulted the $16.3 billion package as too favorable to high incomes and urged a rewrite toward the president’s January plan, while acknowledging limited gains on capital gains taxation.
MENTIONED IN THIS ARTICLE
Washington
Treasury
W. Michael Blumenthal
Carter Administration
Congress
Russell B. Long
Blumenthal
Internal Revenue Service
Senate
House
Carter
Finance Committee
Inflation Surges As Second Quarter GNP Rises
Revised government figures show 8 percent annualized growth in the second quarter, up from 7.4 percent. Inflation reached 10.7 percent, the highest since late 1974, driven by higher costs in construction and equipment. Carter administration expects 3.5 to 4 percent growth for rest of year with food price relief anticipated.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Carter
Breakthrough claimed on natural gas plan moves in Congress
President Carter and leaders pressed House and Senate members to back the natural gas conference report as momentum returns to the stalled energy package. Mondale said signatures from key House conferees and two Senate holdouts signaled progress, despite the threat of a filibuster over cost concerns.
MENTIONED IN THIS ARTICLE
Mike Shanahan
Associated Press
Washington (Ap
Carter
Congress
Walter F. Mondale
Congressional
House
Senate
Democratic
Charles Rangel
New York
James Corman
California
NBC
Mondale
Charles Wilson
Texas
White House
Pete Domenici
New Mexico
James McClure
Idaho
Carter veto triggers anger over giant carrier funding
Washington AP reports backers of a nuclear powered aircraft carrier react angrily to President Carter's veto of a 37 billion defense bill. The measure would authorize buying military hardware including rifles tanks missiles planes and ships in the next year and fund research civil defense. Carter said the 2 billion carrier cost should be used for military readiness and not this project.
MENTIONED IN THIS ARTICLE
Washinton
Carter
Congress
Defense Department
White House
U.S
Charles Bennett
D-Fla
Armed Services Seapower
Three Mexican Nationals Plead Guilty to Misdemeanor
Jesus Martinez-Torres Efren Urias-Alvarado and Rogelio Tarango-Rodriguez pleaded guilty to U.S. Immigration and Naturalization Service misdemeanor violations in Pecos Magistrate Court. Martinez-Torres and Tarango-Rodriguez received 179 days each Urias-Alvarado 120 days. Martinez-Torres had prior state offenses Urias-Alvarado prior illegal entry Tarango-Rodriguez previously jailed 90 days for illegal entry.
MENTIONED IN THIS ARTICLE
United States
U.S. Immigration and Naturalization Service
Jesus Martinez-Torres
Efren Urias-Alvarado
Rogelio Tarango-Rodriguez
U.S
J.M
Preston
Pecos
Martinez-Torres
Tarango-Rodriguez
Urias-Alvarado
Martinez- Torres
Arias-Alvarado
Tarango- Rodriguez
Pecos ISD approves 1978 79 budget with 6.45 million expenditures
The Pecos Barstow To Yah Independent School District adopts a 6,449,294 budget for 1978 79 after a public hearing. The tax rate is set at 1.83 with 1.50 for maintenance and 0.33 for debt service, supported by local and state revenues and a projected Aug 31 1979 fund balance of 223,166. Oil company reps praised the administration for reducing expenditures and maintaining low maintenance cost per student.
MENTIONED IN THIS ARTICLE
Board of Education
Pecos-Barstow-Toyah Independent School District
Ray Whitley
Reeves County
Bill Long
Atlantic Richfield Company
Oil Company
Pecos Heat Reaches 109 Degrees Amid Forecast Cooling
Pecos logged a 109 degree high with a 76 degree low as the Associated Press predicts clear to partly cloudy West Texas through Saturday. Widely scattered storms are possible mainly north and southwest this afternoon and tonight, with a cooling trend rolling in by Saturday. Highs drop from the 90s to 100s and into the 80s in many areas, while lows range from the 50s in the mountains to the mid 70s elsewhere.
MENTIONED IN THIS ARTICLE
Pecos
Associated Press
West Texas
Panhandle
Big Bend
Odessa man faces renewed case for aiding illegal aliens
Odessa resident David Trevino Rowland, 40, appeared before U.S. Magistrate J.M. Preston in Pecos on a repeat violation of immigration law. He was charged with aiding and abetting three illegal aliens, with a maximum five year prison term or 5000 fine, and a $30,000 bond set for the new case while a probation revocation motion is heard next week. Rowland remains in Reeves County jail pending further proceedings.
MENTIONED IN THIS ARTICLE
Odessa
U.S
J.M. Preston
Pecos
U.S. Immigration and Naturalization Service
David Trevino Rowland
U.S. Ins
Preston
Rowland
U.S. Probation and Parole Office
Uled
Reeves County
Pipeline to Midland Agreement Reported for Oil Terminal
An agreement between Standard Oil of Ohio and Southern California Edison aims to clear the way for the 575 million Long Beach oil terminal. Sohio would spend 83 million to clean up pollution, potentially making Long Beach air nine times cleaner once operational. Approval hinges on IRS, Air Resources Board, South Coast AQMD, and Long Beach voters in November.
MENTIONED IN THIS ARTICLE
Los Angeles
Standard Oil Co
Ohio
Southern California Edison Co
Long Beach
Los Angeles Times
Texas
Midwest
the Times
Sohio
Carter
Internal Revenue Service
California Air Resources Board
South Coast Air Quality Management District
California meat buyer eyes Pecos packing plant source
K G Schmitz of San Leandro and Pecos Chamber of Commerce manager Jim Livingston toured Pecos feedlots and met Joey McMahon to discuss Pecos as a potential packing house supply hub for Schmitz’s San Francisco Bay Area wholesale beef operation. Schmitz, active since 1944, noted local cattle quality and plans for further exploration.
MENTIONED IN THIS ARTICLE
California
Pecos
Vicinity
Pecos and
K.G. Schmitz
San Leandro
Jim Livingston
Chamber of Commerce
Pri
San Francisco Bay Area
San Jose
Schmitz
Bay Area
Midland Air Terminal
Livingston
Jay Dycus
Security State Bank
Also Mentioned on This Page
Canyon
Pearl Payne
Ann Hicks
Neice Bradley
Norene Hoover
Darrell Grogan
Mitch Hoover
Robert Hinojos
Senate Finance Committee
Long
Midland
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