January 10, 1987 |
Congressional tax writers, faced with a newly discovered $20-billion loophole inadvertently created by the new tax law, are being pressed to consider emergency legislation to eliminate the provision, officials said Friday. The loophole stems from an obscure provision put into the tax law by former Sen. Russell B. Long (D-La.) during negotiations last August between Senate and House tax writers.
August 4, 1987 |
Construction spending, depressed by continued weakness in apartment and office building, fell 1.1% in June, the second consecutive monthly decline and the largest setback since March, the government reported Monday. The Commerce Department said construction spending totaled a seasonally adjusted $390.1 billion in June, following a revised 0.7% decline in May. The May decline had originally been reported as a 0.3% increase.
December 18, 1986 |
The U.S. economy enjoyed a moderate rebound in growth in the summer, but inflation picked up as well, the Commerce Department reported Wednesday. Analysts said the question now is whether the economic revival can be sustained in the face of uncertainty over the new tax law. The Commerce Department also reported Wednesday that after-tax profits of U.S. corporations rose 5.5% in the July-September quarter, the biggest increase in three years.
October 11, 1987 |
The California Assn. of Realtors' four-man lobbying team was also able to make an imprint on the much-ballyhooed state tax reform measure signed by Gov. George Deukmejian last month. Although the state legislation is designed to conform more closely to federal tax law, CAR and other trade groups representing the real estate industry were able to get some important concessions, said Alex Creel, the realtors' top lobbyist.
April 13, 1987 |
Hundreds of California taxpayers are claiming millions of dollars in refunds for state income taxes paid on sales of stocks of small companies, thanks to a little-noticed loophole in California tax law. The loophole--stemming from a tax break designed to encourage investment in California small business--already has forced the state to cough up nearly $50 million in refunds and interest during the past year or so, state officials say.
January 26, 1989 |
The chairman of the Securities and Exchange Commission urged Congress Wednesday to move cautiously in trying to use tax law changes to stem the current wave of leveraged buyouts. "You should be aware that your committee's activities may influence a stock market that is skittish and nervous," SEC Chairman David S. Ruder told the Senate Finance Committee.
May 4, 1995 |
Restaurants are feeling an additional bite from the tax laws the year, more than 18 months after Congress cut the business meal deduction from 80% to 50%. Although in effect for all of last year, some travelers didn't recognize the pinch until they filed their income tax returns. Thus many in the restaurant industry are braced for even more aggressive cuts in travel meal budgets.
May 23, 1999 |
Q: I read your May 2 column about taxation on the sale of a home where singles are allowed $250,000 of home sale profits tax free while married couples are allowed $500,000. It is my experience that such taxation is unconstitutional because it discriminates against single homeowners.
CALIFORNIA | LOCAL
July 12, 1990 |
The budget battle now playing itself out in Sacramento is both unnecessary and immoral. A reasonable state tax policy could produce as much as $7.85 billion more per year. That would more than make up for the $3.6-billion budget gap. It is simply outrageous that we allow a situation to develop in which our legislators and Gov.
CALIFORNIA | LOCAL
April 18, 1997 |
To judge by the art advocacy climate in Washington, the very future of art in the United States rests on the reauthorization of the National Endowment for the Arts. To question the agency's legitimacy, its record, its actual effects on artists and the arts, is tantamount to declaring war on the creative spirit.