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January 26, 1973 - Image 2

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Publication:
Michigan Daily, 1973-01-26

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Pade Two

THE MICHIGAN DAILY

Friday, January 26, 1973

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NIXON'S BUDGET
Domestic programs cut

ACU-I1
Bowling Tournament
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M-UNION LANES

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"Someof my favorite movie momentsof the year!
Sophisticated, Biting and Droll. Donald Sutherland
ogain demonstrates he is one of our most extra-
ordinary contemporary actors."
--William Wolf, Cue Magazine

WASHINGTON (P) - President
Nixon plans to drastically slash
funds for a variety of housing, edu-
cation and research programs in
his fiscal 1974 budget, claiming all
cutbacks are necessary to curb in-
flation.
It will be one of the tightest
budgets in recent years, accord-
ing to officials in the Office of
Management and Budget. Nixon
will send the massive document
to Congress Monday.
The Office of Economic Oppor-
tunity is scheduled to be broken
up and its responsibilities placedI

in other agencies due to the rap-
idly expanding economy, growing
population, and new federal serv-
ices, the Administration claims.
Widespread cutbacks in funds
for housing, health, education and
social programs, subsidized public-
service jobs, work training and
community services are scheduled.
Also scheduled for trimming are
funds for science, technology,
space and atomic - energy pro-
grams. "There will be some
screams from the scientific com-
munity," said one official.
The budget is reported to call

House committee to probe
tax system in hearings

i

WASHINGTON OP) - The
House Ways and Means Commit-
tee's review of the tax system is
starting earlier and may last
longer and probe deeper into fun-
damental tax considerations than
had been expected.
Feb. 5 is the starting date for
public hearings. Estimates of
the time required for the hear-
ings have gone up from six
weeks to eight.
Proponents of tax reform, in
and out of Congress, are certain
to be heard on proposals aired
during last year's political cam-
paigns for changes in oil indus-
try taxes, rapid depreciation and
the investment credit.
But the committee is prepar-
ing also to look at potentially
broader revisions that could in-
clude the rate of taxation on
capital gains and the length of

time an asset must be held to
qualify for capital gains treat-
ment ,and on the whole structure
of estate and gift taxes.
There were no predictions this
early as to what the committee
might eventually recommend.
Any recommendation from Pres-
ident N i x o n' s administra-
tion would have an effect. But
present plans are not to hear
administration spokespersons
until the end of the public ses-
sions.
There are proposals for shift-
ing the tax system generally in
the direction of lower rates, but
more restrictions on deductions.
Charitable deducations might be
affected, sources said, but prob-
ably not the deductions of spe-
cial vrilue to homeowners: mort-
gage interest and local real es-
tate taxes.

for big cuts in health programs, {
including research programs ex-
cept those dealing with cancer and
heart disease, and hospital con-
struction.
The administration has been
looking at a 19 per cent cut in
federal support for education, in-
cluding "Title I" funds to help
disadvantaged children.
The Commerce Department's
Economic Development Adminis-
tration is due for phasing out. Di-
rect loans for rural power systems
are no longer being provided.
The administration announced
on Jan. 5 an 18-month morator-
ium on new subsidized housing
programs for low income families.
The budget will not call for any
funds for new approvals in fiscal
1974, which starts July 1, sources
say.
Expected to be immune from the
cutback is Nixon's general revenue
sharing program ,a five-year, $30
billion spending program.
Many of the cutbacks have been
made effectivefor fiscal 1973,bthe
current year, as Nixon has tried to
cut spending by $10 billion to hold
the budget to $250 billion. He has
done it through impounding funds
appropriated by Congress.
The Michigan Daily, edited and man-1
aged by students at the University of
Michian.tNews phone: 764-0562. Second
Glass postage paid at Ann Arbor, Mich-
igan 420 Maynard Street, Ann Arbor.
Michigan 48104. Published daily Tues-'
day through Sunday morning Univer-
Pity year._ Subscription rates: $10 by
carrier (campus area); $11 local mall
(in Mich. or Ohio); $13 non-local mail
(other states and foreign).
Summer Session published Tuesday
through Saturday morning. Subscrip-
tion rates: $5.50 by carrier (campus
area); $6.50 local mail (in Mich. or
Ohio); $7 50 non-local mail .(other
states and foreign).

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NEXT-
"THE MECHANIC"
He does body work. When he
fixes someone, they never work
again.
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FEATURE TIMES
Mon. - Fri.: 7:15 and 9:40
375 N. S.,LE RD5
76s-130oSat., Sun.:2, 3:50, 5:45, y:45, 9:10

AP Photo
The fruits of war
The newspaper's headlines acclaim the cease-fire, but for this
Vietnam veteran, Michael Guerrin of Bridgeport, Conn., the war
will never be over. He is being treated at the West 'Haven Veter-
an's Hospital for a back injury he received in Vietnam.
H-DAYS
Agreement announced in
Chicago teachers' strike
CHICAGO (P) - A tenative set- Salaries for 1972 ranged from $9,-
tlement in the longest teacher 796 to $16,716.
strike in Chicago history - 11 days The board agreed to shorten the
of class - was reached yesterday school year from 40 weeks to 39
after a 10-hour negotiating ses- weeks in 1973, and to allow ele-
sion. bmentary teachers a half hour of
Robert Healey ,president of the peaaintm wc eki
Chicago Teachers Union (CTU), preparation time twice a week i
said the chances for schools to the morning. Before the agree-
open today "look good." ment, preparation time had been
Lydon Wild, the board of edu- used at the discretion of princi-
cation's negotiator, said most of pals for teachers meetings or oth-
the funds for the $22.6-million pack- er purposes, a CTU spokesperson
age will come from money saved said.
by not paying striking teachers The strike began January 10 and
and from money budgeted for 1972 closed most of the city's more
but not spent. than 650 schools, leaving 558,000
The board of education agreed to children without formal instruc-
the teachers' demands for a 2% tion. The system has 25,970 teach-
per cent pay increase retroactive ers and the union claimed that
to_ Jan. 1 and smaller classes. 94 per cent of them were on strike.

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Due to overwhelming response

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Subscribe to The Michigan Daily

$nn Arbor M(ujic Mart
will be conducting new
GROUP LESSONS IN GUITAR
Beginning January 29th
Rental instrument kits are available at a
nominal charge applicable tQward purchase
of the instrument. Private and group les-
sons are also available in guitar, flute, re-
corder, banjo, and drums.
For information call 769-4980
jl~im #4,' Ip It u Ic Iota~

TONIGHT

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MON.-SAT. 9:30-9:00

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Author of Your
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and
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Warren Beatty

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