Word: offset
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Dates: during 1970-1979
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...increase the wage base from which deductions are taken to as high as $25,000 and work out some formula to reduce payments by less affluent Americans. A more likely solution is a plan that would give workers earning up to $5,600 a special income-tax credit to offset Social Security levies. Such a plan was included in the Senate version of the bill raising benefits last month, but it was dropped by the Senate-House conference committee. As part of the compromise, however, the House agreed to study the idea further this year...
...plant in Monticello, Ind., converted its heating systems to burn 30 to 40 tons of its own waste wood daily. Dow Chemical Corp. has cut steam consumption in half at one of its plants, partly by installing a more efficient heat-transfer process. The investment of $44,000 was offset within a year through lower energy bills. Alcoa has developed a new smelting process that is expected to cut by 30% the amount of electricity needed to produce a pound of aluminum. Since the aluminum industry is one of the most voracious users of power, the process may prove especially...
...preliminary November trade deficit of $621 million. This follows October's record $821 million deficit. There was speculation last week that the timing of Heath's announcement-on the eve of the Copenhagen summit of Common Market leaders-meant that he might seek EEC help to offset Britain's deficit. There is "an acute danger," as Heath has noted, that his deflationary measures could spread to Europe's industrial economies, all of which are struggling with inflation and the prospect of vastly higher oil bills. The result of that kind of domino-style deflation, Heath said...
...almost 300% on his investment. Tricia received $65,000 as her share, and paid capital gains taxes of $11,617. The White House statement was aimed at refuting published reports that Tricia had avoided paying her share of the tax on the sale by allowing her father to offset the entire gain against the large deductions that he has claimed on recent returns...
This gives outside students the opportunity to study an area of special interest or under a particular professor, Bok said, and "might offset the imbalance and make it unnecessary to inhibit spring leaves...