Word: repeals
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...value of donated stock or goods bought years ago at lower prices. To ensure that no one escapes taxes entirely, the bill requires that taxes be paid on at least 50% of all income. The Senate also blunted the effect of a presidential measure approved by the House: the repeal of the 7% tax credit that businessmen can claim on new equipment. The Administration wants to abolish the credit in order to slow down a capital-investment boom, but the Senate voted to exempt all equipment purchases under $20,000-an amendment that would cost $720 million...
Something of a Surprise. Last week the Nixon Administration moved to allay these fears and called for repeal of Title II of the Security Act, which provides for the camps. Kleindienst, who has emphatically denied the Atlantic quote, was chosen to announce the Administration's proposal. The decision was reached, he said, in hope that it "will allay the fears and suspicions-unfounded as they may be-of many of our citizens...
...doing away with Title II. Hawaii Democratic Senator Daniel K. Inouye, mindful that many Japanese-Americans were shunted off to camps during World War II, has led the attack. Until last week, however, Inouye's cause seemed hopeless. "I was under the impression that Justice was against repeal," he says. Others who directly suggested a repeal of the camp provision to Attorney General John Mitchell in recent weeks came away with the same impression. So the Nixon request was something of a surprise, but one likely to meet with the approval of both houses of Congress...
...quite over. The bill will probably be passed by the Senate, despite the bitter opposition of Senate President (and former Premier) Amintore Fanfani. Even then, the anti-divorce forces have one last stratagem. They will press for a referendum next year to give the Italian people a chance to repeal the law. Said L'Osservatore Romano, the Vatican daily: "Divorce may have a parliamentary majority, but it is not approved by a majority of Italians." That remains to be seen. At any rate, if the bill is enacted and remains in effect even for only a very brief time...
...selling short when the panic came. "Only a fool," he told a friend, "holds out for the top dollar." Foreseeing the end of Prohibition, he cornered the franchise for Gordon's gin and several Scotch whiskies, imported thousands of cases "for medicinal purposes." When repeal came, Kennedy warehouses were bulging and ready for business...