Final touches on major tax bill after nearly three years
Washington report notes the conference committee finished reconciling House and Senate versions of a sweeping tax revision. The measure preserves current cuts through 1977 and adds estate tax changes, boosting federal revenue by 1.6 billion, with future gains tapering as new rules phase in. The bill curbs tax shelters, broadens credits, tightens deductions, and grants new IRS rights while restricting welfare data use.
MENTIONED IN THIS ARTICLE
Washington
UPI
Congressional
House
Senate
Internal Revenue Service
Ford
Delbert L. Latta
Ohio
Democrats win budget battle with Congress
Democrats in Congress approved a 413.2 billion dollar federal fiscal year budget by the House 227 to 151 and the Senate 55 to 23. A House Senate conference aimed to reconcile minor differences before final passage next week.
MENTIONED IN THIS ARTICLE
Washington
UPI
Congress
House
Senate
House-Senate
Count Basie Recovering After Heart Attack in Los Angeles
Band leader Count Basie, aged 72, is resting comfortably at Cedars-Sinai Medical Center after a heart attack suffered Monday. Hospital spokesmen described his condition as fair and stable. Basie has headlined with his big band and jazz arrangements for four decades.
MENTIONED IN THIS ARTICLE
Count Basie
Cedars- Sinai Medical Center
Los Angeles
Basie
Borman's son denies bribe in West Point cheating case
AP reports Frederick Borman, son of former astronaut Frank Borman and West Point graduate, denies bribery accusations tied to a 1973 honor board. He offers a lie detector test while two Class of 1977 cadets refuse to recant denials amid affidavits alleging $1200 bribes to fix a case.
MENTIONED IN THIS ARTICLE
New York
West Point
Frank Borman
Army
Frederick Borman
Borman
Eastern Airlines
Martin R. Hoffmann
Ana
Frank Borman Jr
Michael Weidner
John
Otte
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Ways and Means
Wilbur Mills
Israel
Middle East
Battle of
Lion
John H. Rousselot
Calif
Prin
Speedway
Lyze
U.S. Military Academy
Orig
Delta Tune
Pace CB
Ken Grogran
U.S
Hamburger Cooker
Dick Webbe
Proctor Silex
Oster
Clairol
Steinfe Shop
SUN
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