THE BATTALION
MONDAY, APRIL 2, 1979
Page 3
Loophole
may be
reopened
United Press International
WASHINGTON — Sen. Edward
Kennedy, D-Mass., said Saturday a
wealthy lobby is trying to reopen a
“notorious loophole” in tax laws that
would create “a $1 billion a year tax
giveaway” for the rich.
In a letter to fellow senators and
an accompanying statement, Ken
nedy said Congress is being “heavily
lobbied” to repeal a 1976 tax reform
requiring a property inheritor to pay
capital gains taxes on the difference
between the original cost of the
property and its sale price.
Under the old law, the seller of
inherited property would pay a capi
tal gains tax only on the difference
between the selling price and its
value at the death of the original
owner.
In the letter, he said, “That legis-
, lation was the first serious effort by
; Congress to close the most notori
ous loophole in the Internal Reve
nue Code — the failure to tax gains
in the value of property transferred
at death.”
But he said “the ink was hardly
dry” on the 1976 Tax Reform Act
when banks, lawyers, accountants
and financial advisers representing
wealthy clients “launched an all out
effort for repeal.”
PEARL/FIJI
Battalion photo by Bill Wilson
Seta from San Antonio takes off from the
lof a skateboard ramp. He was a judge at a
skateboard contest sponsored by the
A&M Surf Club over the weekend.
ornadoes hit East Texas,
ijure one, uproot pine trees
First Annual Slowpitch
Softball Tournament
, DATE: APRIL 6, 7, 8
, PLACE: BEE CREEK PARK
»ENTRANCE FEE: $40.00
, Send Entree fees to:
FIJI
SOFTBALL TOURNAMENT t
FIJI HOUSE T
;anew
i out in
). Gor
in, was
cement
;ry is a
ivering
,s were
natural
entofa
ick the
workers
flights
y after
Aero-
>0 em-
untract
agree-
jnion’s
which
ingers,
io new
^^United Press International
Black clouds containing tornadoes
ndaf dropped from an angry East
Storm system, injuring one,
roofing several homes and up-
ating several huge pine trees in
ie heavily wooded region.
Tornadoes and high velocity
nds|hit neighboring Gregg and
nith counties close to the northern
ouisiana border. Several
wer lines were reported down
e rural roads were blocked
plintered trees.
we’re going to go ahead
dsay it was a tornado,” said De
nt of Public Safety spokes-
oman Sara Fitzgerald in Tyler.
Vehad one man call in and say this
loud cut into his pasture and
en lifted back up.
On down the road from his place
came back down and that’s where
endamage was.”
She said the cloud south of Tyler
the roof off one home, caus
ing one injury.
“The injury was minor,” she said,
“just cuts and bruises from glass.
Just one adult was injured.”
Fitzgerald said the cloud then
lifted again and drifted over the city,
coming back down east of town.
“It damaged several houses out
east but there weren’t any injuries.
A lot of power lines came down and
a lot of trees. It must have been a
pretty good one to uproot some of
these big pines we have here.”
She also said the storm was ac
companied by hail, heavy rain and
high winds.
In Longview, a tornado described
by a witness was “a big one” de
stroyed about 10 homes and brought
power lines and trees to the ground.
No injuries were reported there.
Investigator Larry Smith of the
Gregg County Sheriffs Office said
the tornado touched down about 11
a.m. and traveled north along the
ground about four miles.
He said the tornado was headed
in a northeasterly direction toward
Jefferson, Texas, and Shreveport,
La.
1414 S. College
Bryan
779-9696
or
Schaffhauser Diet. Co.
101 Luther West
College Station
696-7231
or Contact Lonnie Copps
at 696-8442
Vtillo promises help
or poor in Juarez
JUnited Press International
UAREZ, Mexico — Mexican
ident Jose Lopez Portillo Sun-
y toured squatter colonies on the
nmeter of the city and promised
J dent leaders he would cooperate
efforts to help the community’s
k
Lopez Portillo, ending his first
tto}the border community in his
ear administration, signed a
.8! million agreement in which
er lines would be run to the
tter colonies. He termed the
it of the area’s poor a “serious
^■colonies along the border are
Bering places for young workers
ini southern Mexico who travel
ere to seek work or to illegally
>ss into the United States at El
so, Texas.
Juarez is an important part of the
public of Mexico because it rep-
ients our entire country.” Lopez
Portillo told student leaders before
returning to Mexico City.
“We will cooperate 100 percent
with the city of Juarez in controlling
the demographic growth of this
community and will try to provide
opportunities for employment of our
young people.”
Juarez officials say the city now
has a population of 640,000 and
could grow to more than 2 million
by the year 2,000.
During his visit to the city Satur
day, the president laid the first
stone for a 25,000 seat Olympic
stadium in a national park about 100
yards from the U.S. border.
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STORE
HOURS
8:00-6:00 M-F
8:00-6:00 SAT.
Pete Galloon
Manager
Villa
Ponderosa
Sevcik's
Texaco
Labani's
Zulkowski's
Texaco
Maria
Texaco
1101 Villa Maria
Bryan
Ph. 846-2013
George Shyrock
Texaco
Texaco
2901 E . 29th
Hiway 6
400 Jersey
11405 Hiway 6
Bryan
Bypass South
College Station
College Station
846-2840
College Station
Ph. 693-8877
Ph. 696-1611
Ph. 693 5656
2102 TEXAS AYE.
Ttrestone
822-0139
FOR 79 YEARS ... A NAME YOU CAN TRUST
WE STAND BEHIND OUR TIRES and CAR SERVICE!