Word: offsets
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...Shannon survived a brutal five-man primary fight in the Fifth District and as the Democratic nominee is an odds-on favorite to succeed Tsongas. His Republican opponent, Middlesex County Sheriff John Buckley, has been running strong, but observers doubt his votes in Boston's northwest suburbs will offset Shannon's expected power in the Democratic stronghold cities of Lowell and Lawrence...
Trying to offset the political effects of his poor attendance record in 1977, Griffin stayed close to the Senate floor this year, to the detriment of his campaign. He is now back in Michigan attempting to make up for lost time, helped by a campaign treasury of about $1.5 million, nearly twice as large as Levin's. Says Griffin: "The mistake I made was to make that decision [to retire] and then to announce it as early as I did. I should have waited...
...billion reduction in individual income levies provided by the tax bill will just about offset the bite of increased Social Security taxes and the impact of inflation pushing people into higher tax brackets. But the cuts in corporate and capital gains taxes stand to improve the business climate and stimulate investment. The energy bill permits natural gas prices to rise significantly, leading to total decontrol in 1985, and meanwhile imposes the same pricing system on gas pumped and sold within a single state and fuel piped across state lines. Energy executives in Houston forecast that as a result, more...
First the upper chamber voted a $4.5 billion reduction to offset the increased Social Security taxes. Then it tacked on an array of special-interest freebies. New York Democrat Daniel Moynihan proposed that the New York State Power Authority be allowed to issue tax-exempt bonds. It passed. Russell Long's Senate Finance Committee had moved that chicken coops built by egg producers should qualify for a 10% investment tax credit. It also passed. Taking up the controversial issue of reducing the tax on capital gains, the Senate turned out to be $1.4 billion more generous than the House...
...that his company will have to report a heavy loss, possibly because it will have to pay more dollars to settle bills owed to German and Japanese suppliers in marks or yen. The treasurer sometimes will make speculative sales of dollars late in the quarter, seeking trading profits to offset part of the loss...