House panel tightens tax minimum to catch wealthy filers
The House Ways and Means Committee approved a tax revision plan raising the minimum tax from 10 to 14 percent and cutting the exemption from 30 000 to 20 000 dollars. It would tax 80 000 filers and add deductions for high income itemized deductions above 70 percent of adjusted gross income, boosting revenue to about 700 million dollars next year.
MENTIONED IN THIS ARTICLE
Washington
House
Ways and Means Committee
Joe D. Waggonner Jr
D-La
Ford
Waggonner
Gas Shortage Threatens Virginia Industries This Winter
Virginia faces an 8.3 percent cut in natural gas this winter, risking closures for firms reliant on gas. Danville and Martinsville are deemed high risk with 30,000 potential job losses in Danville. Speakers urge Congress to deregulate interstate gas prices and tailor cuts by end use rather than across the board.
MENTIONED IN THIS ARTICLE
Richmond
Congress
Virginia
Ernest Jordan
State Corporation Commission
Virginia Energy
Erwin H. Will
Virginia Electric & Power Co
Louisiana
Texas
SCC
Weighed Down by Flaws In Military Meat Survey
Federal auditors report 61 percent of nearly 1.5 million pounds of frozen meat at six military warehouses failed to meet standards. Flaws include excess fat underweighting tainting by hair and mislabeling leading to higher nonconforming value. Senate subcommittee plans hearings in late fall to pursue the nationwide inspection breakdown.
MENTIONED IN THIS ARTICLE
Washington
Virginia
Senate
Les Fettig
Cheatham Annex
Yorktown
Fettig
Sen
Lawton Chiles
D-Fla
Federal
Norfolk Naval Supply Center
Landover
Chicago
Kansas City
Alameda
Cal
Chiles
Russia to pay higher shipping rates for grain to Soviet Union
Commerce Secretary Morton said the Soviet Union agreed to pay 16 dollars a ton to U.S. ship owners for grain shipments to Russia, a rise from 9.50. The deal could enable idle U.S. tankers to haul grain and hint at a grain for oil swap, with Meany cautious about approval as unions pause a grain boycott. President Ford sent a negotiating team to Moscow to obtain gradual, minimum grain purchases.
MENTIONED IN THIS ARTICLE
Washington
U.S
Soviet Union
Commerce
Rogers C.B. Morton
Russia
Moscow
Morton
Afl-Cio
George Meany
Meany
Ford
Also Mentioned on This Page
Joe
Chesapeake Bay
Ocean Cove
the Camelot
Camelot Restaurant
Stephens City
Dolly
Gateway Inn
Queen & Martin Sts
Martinsburg, W. Va
Eylepen
Delo Plaza
Winchester
Til Brundiges
Brad Dusek
Little Mac's
S. Loudoun St. Ext
Piccadilly St
Tiffany Style
Ea Cola
Sas
East
Berryville Ave
Martinsburg Pike
Echo Village
Ferdinand
Papa Ferdinand
Baby Ferdinand
Maryland
Ferdinand Steak House
Inchester
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