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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (May 7, 1986)
* WD U IN THE ou Don t Want to Interrupt Your Studies... The Fajita Grille Delivers ^ 764-0076 MiaiiaiMBiBiUBUi FUN! EXCITING! CHALLENGING! A&M Christian Fellowship presents... WHAT IS TRUTH? Is everything being taught really true? Wednesday May 7,1986 7* pm BLOCKER BUILDING, RM 102 ESPIRIT Contemporary Clothes Sample Sale 50% Off Retail For 3 days only! May 7,8 and 9 At Ramada Inn Ballroom IOC- 10am- 7pm Free gift with every purchase of 550 DBA Mojans MCard/Visa/Am Express Welcome 696-4242/ext 2166 Page 10/The BattaUon/Wednesday, May 7,1986 ^ ^ v ff Committee votes to repeal local sales tax deductions r . * ’ WASHINGTON (AP)- The Senate Finance CommM- tee, •trugglmf toward a final vote on the biggest tax- over haul bill in more than 30 years, voted Tuesday to repeal the deductions allowed for state and local sales taxes and most Individual Retirement Accounts. The committee steadfastly refused to accept any signi ficant amendment to the package written by Chairman Bob Pack wood. R-Ore There was no effort to preserve the full deduction for contributing to IRAs, which are held by more than 28 million families The committee plan includes these pro visions for IRAs: • Workers who are not covered by a company pen sion can continue as under present law; they may contri bute up to $2,000 a year <12,2SO if the spouse hat no income) to an IRA and not pay taxes on the contribution or the interest it earns until withdrawal • Workers covered by a company pension can set aside the same amounts, but they pay taxes on the contribu tion However, the interest earned will not be taxed until withdrawn The committee’s package would take away about 90 percent of the tax benefits of IRAs. By votes of 13-7, the committee twice refused to res tore to Packwood’s bill a full deduction for state and local sales taxes. The bill continues the deduction for income and property taxes. Summit (continued from page 1) about France's refusal to permit U.S. warplanes to fly over French territory en route to the April 15 bombard ment of Libya. Still, lingering differences among the summit nations over counter terrorist strategy surfaced on the conference’s final day While the summit leaders earlier had approved a tough anti-terrorist statement singling out Libya as a state which sponsors terrorism, Japanese Prune Minister Yasuhiro Nakasone emphasized there was no mention of sanctions. Craxi said the leaders agreed there would be consultations among allies before any new U.S. air strikes against Libya. < Reagan came awav with less than he wanted, and so did Italy's Craxi and Canada's Prime Minister Brian Mulroney. Both had come here seek ing admission of their countries to the Group of Five finance ministers and central bankers, the five coun tries being the United States. Britain, France, West Germany and Japan. But the best Canada and Italy could get was acceptance of limited membership in the monetary group, so that overall monetary and econo mic policies among the seven summit partners can be better coordinated. Early in the three-day meeting, Craxi reportedly threatened to pull out of summit economic talks if Italy and Canada were not allowed to join the Group of Five, a super-secret group comprised of the finance ministers who make decisions that in fluence global monetary policy But the summit partners reached a compromise that gives the two na tions partial membership, including the right to take part in important discussions, particularly when the talks would directly affect their coun tries' currencies. One of the most notable and un resolved disputes involved farm sub sidies. The Reagan administration has been cutting subsidies at home and would like to see a commitment from European nations to to the same The Europeans are cool to the proposal and the leaders agreed only to study the issue. But the United States did per suade summit partners to back pre liminary talks in September aimed at a new round of international trade talks, talks aimed at lowering bar riers that restrict U.S. sales abroad Reagan came to the summit with hopes that trade talks could actually begin in September. Baker said, "If you wanted to bet there would be a trade round in Sep tember, you wouldn’t get very good odds" But he insisted he was satisfied with the statement on preliminary talks, saying there had been resis- stance to anything more than a vague commitment to a new round of talks at some time in the future. Preparations for a new round marks a change from last year's eco nomic summit in Bonn, when the U.S. effort to launch the trade talks was torpedoed by France. Prosecutor Woman hopes for spy swap LOS ANGELES (AP) — A prosecutor suggested Tuesday that a Soviet woman tailored her testimony in her former k>v«r’s espionage trial in hope that she would be returned to Russia in spy swap. Svetlana Ogorodnikov said she’s aware such trades occur M she testified for an 11th day in the trial of fired FBI agent Rich ard W. Miller. Assistant‘U S. Attorney Russell Hayman asked. "You are aware, aren’t you. that Soviet spies are sometimes traded by the United States and are allowed to go back to the Soviet Union, aren’t you?" “I read,” she responded "And you are aware that your government will never trade any one for you if they are displeased with vour testimony in this case?” he asked ^ “Can you explain?" she asked, but the matter was never re solved. Miller, 47, the only FBI agent ever charged with spying, is ac cused of conspiring with Ogorod nikov and her husband Nikolay to pass classified documents to the Soviets m exchange for prom ises of $65,000 in cash and gold. Battalion Classified 845-2611 Faculty (continued from page 1) solving the issues after taking into account all the effects on concerned parties. • “That was an issue with a very high boiling point as far as the faculty was concerned,” Milford said. ‘‘It had been festering a long time without getting any relief, and I think we could nave taken action more suitable to everyone." Dr. Jaan Laane, chemistry profes sor, is the current speaker of the sen ate. He said the senate set a number of goals at the beginning of his year as speaker, many of have alreadlv mate rialized. Some of these incluoed: • The creation of a faculty club on campus, which has already been organized, but is awaiting final de taw, • A document recommending a new process of selecting department heads, which is still pending, • A proposed uniform policy for awarding emeritus status to faculty, which also is awaiting approval. • A joint committee between local school districts and the senate through which the senate hopes to help embellish programs in local schools • A subcommittee studying the organization of the A&M System, whose recommendations should come before the senate this year, and • A broader policy on faculty prom otion and tenure, which also is still pending. ATTENTION "ON-CAMPUS HOUSING"AGGIES CASH FOR YOUR CONVERTER wp Well pay you $5,00 cash* when you return your converter box to our business office by May SI. 3609 Texas Ave., Bryan Monday-Frtday Bam * 6pm Sat. 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