Word: exempt
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...everything from pastry-baking to power-sewing by one of the world's largest vocational schools. It will build a plant and rent it to him. Moving to Puerto Rico will free him from U.S. income taxes. And as the biggest come-on of all, Puerto Rico will exempt him from all corporate taxes for ten years if the industry he starts is a new one for the island and not a "run away" from the mainland. His personal income from dividends, moreover, can be exempt from taxes for seven years in the first...
Reece, a former chairman of the Republican National Committee, and one of the late Senator Taft's most outspoken supporters, will talk on "To Socialism Via Tax-Exempt Foundations...
...week's end he announced that he had been working on an elections reform bill that he hoped to get passed this year. Its principal points: 1) radio and TV stations should be allowed to grant free and equal time to major political parties but should be exempt from matching this with free time for fringe parties; 2) present unrealistic limits ($25,000 for Senators, $10,000 for Representatives) on campaign expenditures should be lifted; 3) campaign contributions up to $100 per person should be declared tax exempt. Not to be outdone, the G.O.P.'s Bill Knowland said...
Passed last week by the Senate amid intense lobbying, the Harris-Fulbright amendment to the 1938 Natural Gas Law would, in effect, exempt producers of natural gas from government regulation. Under existing legislation, the Federal Power Commission has regulated gas production at the wellhead, with the "primary aim of preventing exploitation of consumers." But supporters of the bill maintain that these regulations curtail the profits of the nation's more than 5000 gas producers--most of them relatively small--discouraging them from seeking vital new reserves. The real violators of the consumer's interest, according to Senator Fulbright of Arkansas...
...would provide a hearing to ferret out subversives on an institution's faculty. Defining subversives as members of all organizations on Attorney General's list, the bill gives institutions the option of losing their subversives or their charters. In the case of Harvard's non-revokable charter, tax-exempt status would be withdrawn...