Tax write-off changes lower 1971 business tax by 2.6b
President Nixon ordered changes that permit faster write-offs, reducing business tax payments by 2.6 billion dollars in 1971. UPI telephoto.
13 Jan 1971
Page 1
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Newspaper
Washington Evening Journal
Location
Washington, Iowa, United States of America
Date
Jan 13, 1971
Page
1
President Nixon ordered changes that permit faster write-offs, reducing business tax payments by 2.6 billion dollars in 1971. UPI telephoto.
President Nash takes issue with Bethlehem’s announcement to raise prices calling increases very large. Lukens Steel adds 17 a ton on carbon plates effective March 1. Ziegler says cabinet to review market impact and report back with action ideas. He notes imports are capped under a voluntary 1969 agreement. The president prepares State of the Union and a youth speech for Lincoln Nebraska convocation.
A memo intercepted and released references Des Moines Governor Ray warning about a bill. The document notes caution toward potential political maneuvering and urges prudent action by officials.
Des Moines reports show Republicans pushing a 60 percent rule to curb Democratic minority power in the Iowa House. The change affects procedural votes and committee actions, drawing strong opposition from Minority Leader Dale Cochran who warns it suppresses debate and fairness. The electorate in urban areas with Democratic delegations could be enfranchised by the shift, while party leaders claim precedents exist for the move.
The FCC approved interim long distance rate hikes for AT&T totaling 250 million dollars in additional annual pre tax earnings and announced hearings to decide if higher rates are warranted AT&T noted its preferred increase would be larger but the commission cautioned the interim rise is not a final decision Read page six referenced probate of will and executor appointment also noted in the report.
Gov. Robert D. Ray said he has not been officially informed about the Iowa Development Commission plan to legalize wider and longer trucks. He would listen but may withhold recommendations until benefits to citizens are shown and highway damage is considered.
A federal grand jury indicted Rev. Philip Berrigan 47 and seven others for plotting to kidnap Henry Kissinger from jail and threaten the government. Co defendants include two other priests a nun a former priest a Pakistani with a science PhD a brother of Berrigan and three other women.
In Tampa Central Avenue a mob of black youths smashed windows and set cars and stores on fire after off-duty Patrolman Joe Sanez fatally shot one of two attackers outside The New Bar. Ray Collins, 20, died. four looted stores and multiple arrests reported. cab driver Dan Miemelt shot twice in the back, condition unknown.
Travel advisory this afternoon as cloud cover dominates. Northern and eastern areas expect light snow with lows from 10 to 15 degrees in the north and 15 to 22 in the south. Thursday turns partly cloudy and warmer with highs around 20s.
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