University Daily Kansan
Monday, October 16, 1978
2
National energy package passed
WASHINGTON (AP) - Congress handed Jimmy Carter the biggest domestic victory of his presidency yesterday. Weaponry accounted for 59 percent of all planned first sent to Capitol Hill 18 months ago.
The 95th Congress sent the White House a package that critics said will cost consumers too much and produce few new energy reserves.
But the president praised the package, saying it 'will advance our national security, insure our freedom of action in foreign affairs' and 'provide our economic foundation and abroad.'
BLEARY-EYED House members completed their 231-168 vote for the energy
program at 7:32 a.m. EDT, shortly after dawn broke over the Capitol dome in the midst of an around-the-clock legislative session.
From beginning to end, the legislation stirred bitter controversy and its outcome was complicated.
The five-part energy package is a far weaker one than Carter sent to Congress on April 20, 1977 as "the moral equivalent of war."
A multi-billion-dollar tax on crude oil, which Carter once termed the centerpiece of the program, and a nickel-a-gallon tax on vehicle emissions measure worked its way through Congress.
Congress passes tax cut, sends bill to White House
WASHINGTON (AP)—Congress completed action yesterday on an $18.7 billion bill that would cut taxes for 65 million couples and individuals next year, slash the capital gains tax and give a new break to elderly Americans who sell their homes.
The House voted 337-38 to pass the measure, following passage by the Senate.
The measure now goes to the White House. A top presidential aide said the president would want to give it careful scrutiny before deciding whether to sign it.
THE SENATE, at a 46-29 vote, defeated a last-minute attempt to revive a provision that would have cut taxes an additional $17 billion if government spending were held down.
The final tax bill would give a $167 tax cut to a typical four-member family with income of $20,000, deductions totaling 23 percent of income and a current tax bill of $15,900. The final tax bill of $20,000 income would get a $9 reduction from the present $255. A single person with
the same income would receive $117 off the current $2,232.
IN TYPICAL cases under $20,000 income, the cut would offset the higher Social Security taxes that will go into effect next year. If the tax cut is not increased which the tax cut would be large enough to offset the Social Security increase and the heavier income tax burden caused by incomes.
MOST OF the estimated one-quarter of individuals who itemize deductions would lose a favorite deduction, for state and local gasoline taxes.
About 36.3 percent of the $12.7 billion in individual reductions would go to the 8.6 percent of taxes with incomes above $30,000 and 45 percent of taxes under current law.
And, for the first time, some unemployment compensation would be taxed when the recipient's total income exceeds $20,000, if single, and $25,000, if married.
WHILE THOSE portions of the natural gas compromise meet the wishes of the oil and gas producers, the bill also eliminates a portion of the difference between producer and non-producer states.
Even its prime backers acknowledged shortcomings in the legislation as it emerged from a tortuous series of legislative compromises.
NONTHELESS, the measure marks the first attempt to overcome widely divergent regional and economic interests and enact a common environmental policy production and encourage conservation.
In the meantime, producers are granted increases over eight years that will double the prices they can charge.
Supporters that would eliminate a repeat of wintertime shortages of natural gas that closed Midwest and Eastern schools and factories two years ago.
Carter's energy advisers say the energy program approved by Congress will reduce that amount by 2.5 million barrels daily, improving the position of the dollar abroad in confidence in the American economy among its trading partners in Europe and Japan.
It also would give a maximum tax credit of $2,280 for those who install solar heating systems.
A parallel goal is a reduction of imported oil. The United States now uses about 16 million barrels of oil daily, importing about half that amount.
The energy tax bill would provide tax credits up to $300 for Americans who insulate their homes or install other weatherizing equipment.
The most heated debate on the program focused on a plan that will deregulate the health insurance system.
Starting in 1980, there are a $200-$500 tax on the manufacturers of gas-guzzling cars, a levy expected to have little impact because they were not required to produce fewer fuel-ineficient models.
Another Lewis Grey and SUA Production
the
VOTE
TRADITIONALIST
COALITION
Senators
Sheryl Bartsch
Dan Bolen
Jim Borelli
Kyle Duckers
Susan Grier
Kelly Sayler
Class Officers
Cindy Aylward—V. Pres.
Tom Ritchie—Treas.
Nancy Carlson—Sec.
Paid for by the Traditionalist Coalition
WOMEN'S BASKETBALL TRYOUTS
Sunday Oct. 15 10:00 a.m.- 1:00 p.m.
Monday Oct. 16 4:30 p.m. - 7:00 p.m.
All interested persons should contact head coach Marian Washington by Friday at 5:00 p.m.
Not bad.
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