Word: exemption
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Churches around the country are closely watching a suit brought in federal court in New York by the Abortion Rights Mobilization. It is seeking to bar churches from using tax-exempt funds or facilities to support pro-life political candidates. Washington Lawyer Lee Boothby, an authority on matters of church-state separation, thinks that if the suit is successful it could "make religious organizations much more circumspect...
...base for the pro-Iranian fanatics, have allowed the extremists fairly free rein. But Saudi Arabia bankrolls Syria to the tune of $1 billion a year, and Saudi diplomats have frequently acted as mediators in intra-Arab disputes. In tacit recognition of their status, Saudi diplomats had been exempt from the terror that has made victims of both Arabs and non-Arabs in Beirut. As the week passed, there was no further word on Farrash's fate...
...Attorney General simply completes the Administration's calculated gutting of the civil rights division of the Justice Department. Other components of Reagan's civil rights policy--some would say lack of a policy--have been his moves to reduce legal services (whose main recipients are minorities); advocacy of tax-exempt status for discriminatory colleges; opposition to the Equal Rights Amendment; and attempts to block an extension of the Voting Rights...
...Frank Russell Co., a pension-fund consulting firm, showed that over the past ten years, independent investment advisers have earned an average annual return of 12.6% on the money in their care, while banks could muster only 8.3%. As a result, the independents' share of the tax-exempt fund business, which includes pension and profit-sharing plans, has ballooned since 1975 from 20% to 37%, ahead of the banks' 35% and the insurance companies' 28%. Upstart independent firms Like Alliance Capital Management in New York City, Capital Guardian Trust in Los Angeles and LeBaron's Batterymarch...
...importance of state aid in covering Boston's expected $40 million budget deficit, describing what he called "an extended city." He said suburbanites should pay more for the services they use when they shop and work in Boston; he also said he wold try to get Boston's tax-exempt institutions to increase their in-lieu-of-tax payments to the city