Reagan's Tax Cut Victory Boosts Economic Prospect
President Reagan celebrated a 238-195 House win on his 25 percent across the board tax cut after earlier budget approval. He praised the nation’s system, said America is better off and more confident, and noted the day was “a nice day” as he telephoned supporters and spoke in the Oval Office.
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Peanut deal sways Dem bloc on taxes for budget votes
Reports say President Reagan promised to drop peanut price support changes and offered tax breaks to win Democratic backing for his budget. The House approved a 25 percent across the board tax cut after Democratic opposition. Several Georgia Democrats backed the move, aided by administration assurances on social security and energy-related concessions, including a coal gasification plant.
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Amnesty highlights immigration policy
Washington officials unveiled 165 policy proposals calling for an amnesty program for up to 3 million legal aliens and fines for employers who hire illegal workers. President Reagan described an open door in a controlled, orderly fashion while Attorney General Smuth urged enforcement and border control at a congressional hearing.
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Charles and Diana fish on first day of honeymoon in Romsey
Charles and Diana toured a calm Romsey scene on their wedding day voyage to a Mediterranean cruise. The royal couple fished for salmon at Broadlands while security rings kept photographers at bay. Royal Navy sailors toasted the couple with a rum ration as reporters logged the new couple’s early moments from Balmoral to Romsey.
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French study links diabetics red blood cells to vascular damage
Researchers from the Hospital of Saint Louis Paris report in the New England Journal of Medicine that abnormal red blood cells in diabetics adhere to vessel walls more than in non diabetics. The more vascular disease, the stronger the adhesion, tying diabetes to higher rates of blindness and kidney disease.
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Congress of the All Savers Act may lift thrift industry
A panel sees potential gains from tax deductions for savings income and rate pegging at 70 percent of Treasury yields to spur thrift institutions. Reagan spending cuts could aid, but debt concerns persist while lenders prepare for 1985 deregulation. ARMs AMLs and other mortgage shifts loom, with due-on-sale and prepayment terms shaping lending moves.
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Senate panel OKs Casey to serve as CIA chief
The Senate Intelligence Committee unanimously found William J. Casey not unfit to serve as director of central intelligence while continuing its probe into past business practices and agency management. Chairman Barry Goldwater announced the panel’s decision after five hours of closed testimony, noting no basis to conclude Casey unfit. Reagan welcomed the ruling as the panel proceeds with its investigation and potential further testimony.
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