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This week two powerful members of the House Ways and Means Committee, New York Republican Barber Conable and Oklahoma Democrat Jim Jones, will submit a bill calling for a very similar 5-10 depreciation plan. They have dropped the one-year aspect because it is too difficult and costly to determine what kind of federally mandated plant should qualify; for example, regulations require that elevators be installed in 20-story buildings, but no one thinks they should be written off in one year. The kind of expense on which business would like to have relief was highlighted last week when...
Democrats who urge tax breaks for business used to be as rare as Southern supporters of memorials to Ulysses S. Grant, but that was before Oklahoma Congressman James Robert Jones started working the corridors. As the party's primary advocate of liberalized depreciation rules, Jones is at the fore of a neoconservative fiscal bandwagon that is straining the old free-spending coalitions of the New Deal and the Great Society. He is also one of the most effective and fastest rising members of Congress...
...wake of Three Mile Island, the battered nuclear power industry suffered another blow last week, this one in a court of law. A federal jury in Oklahoma City handed down a finding in the celebrated case of Karen Silkwood that vastly increased the chances that a company using nuclear materials might have to pay heavy damages for harming not only its employees, but people in surrounding areas...
Most students are showing prudence. At the University of Oklahoma, for example, about 20 of the 525 Iranian students have gone back. At the University of California at Berkeley, just one out of 156 has returned. Students with relatives who have been forced into exile or executed by the Khomeini government are obviously going to stay put. Others have been getting word from friends or relatives to keep their distance. An electrical engineering student at the University of Wisconsin describes his latest phone conversation with his father, who is still in Iran. "He seems afraid, like when the Shah...
Until now Henry Irwin, 62, a West Pointer and former lieutenant colonel who resigned from the Army in 1947 after marrying Phillips Petroleum Heiress Elizabeth Phillips, was best known as a maverick Oklahoma presidential elector. In 1960 he ignored his pledge to Richard Nixon and voted for Virginia Senator Harry Byrd. Last week a court approved a settlement in which Irwin will be paid $1,600 a month by his exwife, as long as he remains unmarried. She herself had proposed a payment because of his lack of income. "It was just something I wanted to do," she told newsmen...