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July 31, 1981 - Image 4

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Michigan Daily, 1981-07-31

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Page 4-Friday, July 31, 1981-The Michigan Daily
Oil benefits are
main question in
final tax bl

From AP and UPI
WASHINGTON - When a Senate-
House conference committee gets
together to agree on the final details of
President Reagan's tax-cut bill, the
talk won't be on how to help the poor or
bolster the economy. The big question
will be whether to give the oil industry
$47 billion worth of special relief, $20
billion, or something in between.
Americans will not feel the effect of
President Reagan's tax cut package
until they pay their 1982 income taxes,
and even then the impact will be
minimal.
IN FACT, people making less than
$10,000 will get such a small tax cut in
1982 that it will be more than offset by
inflation and increases in Social
Security payroll deductions, and they
will end up paying more in taxes.-
The tax cut is scheduled to take effect
Oct.1. Although the first year of the tax
cut is billed as a five percent reduction,
it will amount to a 1.25 percent cut for
1981 since it comes at the end of the
year.
There's no difference between the
House and Senate bills on the basic tax-
cut issues: Individuals will get a 25 per-
cent reduction in tax rates over the next
three years. The two houses likewise
are in virtual agreement on how to
reduce business taxes.
BUT IT WAS oil benefits that

produced a dramatic victory, for
Reagan's plan in the House Wednesday
and it is the size of those oil' benefits
that will determine how quickly the
conference can complete its work.
If all goes according to schedule, the
conference will start its work today and
some congressional leaders say the
handful of differences can be resolved
in one day.
Others in Congress doubt the final
compromise bill can be delivered to
Reagan for signature into law-before
the middle of next week.
BEFORE THE conference can even
start its work, the Senate will have to
have a formal vote on the tax bill. That
vote, usually taken routinely, was being
delayed until Senate and House leaders
could free for final action a second part
of Reagan's economic program: a huge
budget-cutting measure.
The budget bill was cleared for action
today after being held up most of the
day yesterday by Democrats who op-
pose a provision in it, that would
eliminate minimum Social Security
benefits for three million elderly
Americans.
Under pressure from a powerful
committee chairman who could hold up
President Reagan's budget cuts,
congressional leaders worked out an
agreement yesterday to allow the
House to vote symbolically to restore
the Social Security minimum benefit.

In Brief
Compiled from Associated Press and
United Press . International reports
Blast levels Utah explosives
plant; five people missing
GRANTSVILLE, Utah-A predawn blast turned an explosives manufac-
turing plant into a fireball yesterday, leveling the concrete building and
leaving "not a trace" of the five people working inside, officials said.
A other blast was averted after workers capped a leak in a 10,000-gallon
tank of flammable material.
"If all the people were in the plant-five-we can only assume the are all
dead," Tooele County Sheriff Walt Shubert said,
The concrete building was "blown away" shortly after 4 a.m. MbT by the
first in a series of blasts, Shubert said. "There is just a hole in the ground" 35
feet deep where the plant was, he added.
As fire from the first blast spread to containers of solid and plastic ex-
plosive, at least two other explosions occurred, officials said.
Iranians demand Frn h
extradition of Bani-Sadr
BEIRUT, Lebanon-Demonstrators chanting "Death to Mitterrand!"
ringed the French Embassy in Tehran for three hours yesterday and
demanded the Paris government extradite fugitive ex-President Abolhassan
Bani-Sadr to Iran for trial. There was no reaction from French President
Francois Mitterrand.
Sources in Tehran telephoned by The'Associated Press from Beirut said
there were about 250 demonstrators outside the embassy.
In France, neither Bani-Sadr nor any members of his family appeared
outside the tightly-guarded apartment where he is staying. French police on
guard at the apartment said Bani-Sadr's wife and daughters were with him.
The protest at the French Embassy in Tehran occurred hours.after a har-
dline deputy, Hojatoleslam Sadegh Khalkhali, told Iran's parliament that
Iranians would take matters into their own hands unless the government
took action against the mission.
Israel, Syria trade threats
TEL AVIV, Israel-Israel and Syria traded threats yesterday after Israeli
planes downed a Syrian jet fighter over Lebanon and Palestinian guerrillas
attacked a bus outside Jerusalem, wounding four people. -
Israel said-it might retaliate for Wednesday night's bus attack, and Syria
said Israel would "pay dearly" if it continued reconnaissance flights over
southern Lebanon like the one that resulted in Wednesday's dogfight.
One of the wounded in the bus attack, a 23-year-old woman, in her seventh
month of pregnncy, was in serious condition after a bullet killed the baby
she was carrying.
Palestinian guerrillas briefly shelled a Christian town in southern
Lebanon last night, violating the week-old cease-fire mediated by the United
States along the Lebanese border, Israel Radio said.
Irish hunger striker in coma
BELFAST, Northern. Ireland-Jailed Irish nationalist Kevin Lynch slip-
ped into a coma in the 69th day of his fast yesterday. And fellow hunger
striker Kieran Doherty was almost unconscious and barely able to talk after
70 days without food, their supporters said.
Bishop Edward Daly of Londonderry urged an end to the fast "before any
more deaths take place."
But a spokesman said Lynch, Doherty and six other hunger strikers
vowed: "Our position has not and will not alter up to such time as the British
government decides to honorably settle the issue."
Sinn Fein, the Irish Republican Army's political front, said that Lynch, 25,
was expected to die at any time. He was reported unable to drink water
because his throat was ulcerated.
Lynch, a member of the Irish National Liberation Army, is serving a 10-
year term for ambushing British troops, conspiring to steal military
weapons and taking part in shooting people who defied his clandestine
organization
FBI bootleg tape 'sting' fails
NEW YORK-An undercover FBI operation involving bootlegged music
tapes was unmasked last Sunday when the target-of the inquiry recognized
the would-be buyer as Abscam con man Mel Weinberg.
"We know who you are and we know who you work with," Stanley Pearson
said he told Weinberg on Sunday during a long-distance telephone call
originally placed to cement the sale of 25,000 rock music cassettes for
$38,750.
An FBI agent on the case who asked not to be named confirmed that Pear-
son made the remark during the phone conversation.
FBI spokesman Joseph Valiquette confirmed Weinberg's involvement in
an investigation of "copyright matters" and said the inquiry is continuing.
He said the fact that Weinbergwas recognized did not harm the case.
In an interview with The Associated Press, Pearson denied any
wrongdoing and said he had been working on the "bootleg problem" with
record company officials for more than a year.
Pearson, president of Music Leasing Co.-which buysmaster tapesof
popular records, then leases the rights to independent distributors for -
copying-said he went along with Weinberg only to "see how far our gover-
nment would go to trap honest businessmen like me."

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