Word: exempt
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...decision marked a sharp turn in White House thinking. Though Reagan had always insisted that military spending must be exempt from budgetary restraints, he is now proposing a reduction for the sole purpose of shrinking the deficit. Secretary of Defense Caspar Weinberger, who fought against the cuts and lost, made that reasoning explicit. Ashen-faced and biting off his words, Weinberger declared, "If it were not for the deficit, we would not have any suggestion that we not carry out the full program...
Watt later surprised environmentalists by declaring he would issue no more drilling leases in 200 million acres of wild land, even though the law technically permits him to do so during the last three months of this year. As it happens, the lands will be exempt from leasing anyway when a congressionally imposed moratorium takes effect Dec. 31, 1983, and Watt's previous attempts at lease issuance have met with strong resistance on Capitol Hill. Admitted the Secretary: "It is not worth the political hassle...
...municipal bonds are exempt from federal taxes. They are especially attractive to residents of the state or city selling them, because then they are usually exempt from state and local taxes as well. For example, a New York City couple with a taxable income of between $45,800 and $60,000 will be in a 51% bracket in 1983 if federal, state and local income taxes are all counted. So a New York State or city bond that pays 10% interest will produce as much money as a taxable investment yielding 20.4%. As Lebenthal points out, however, a bond...
...Brandeis plan will make use of a newly-created State Student Loan Authority to secure tax-exempt bond issues for schools, thereby increasing the amount of money they can offer students in loans...
...gasoline tax increase that would finance it is equitable to lower-income citizens. The House bill, backed by the President and leaders of both parties, also would increase taxes on tires and fees paid by truckers, a proposal that drew sharp fire from trucking lobbyists. Airline executives want to exempt aviation fuel from...