Amtrak Backs Off Cutback Threat

AP Online April 5, 2002 | LAURENCE ARNOLD, Associated Press Writer 00-00-0000 WASHINGTON (AP) _ Amtrak, citing signs of help from Congress, backed away Friday from its threat to issue notices that would allow it to cut its long-distance train network as early as this fall.

Instead, the railroad sent an update letter about its continuing quest to win $1.2 billion in federal funds for the fiscal year beginning Oct. 1. The letters went to governors of the 46 states Amtrak serves.

Amtrak President George Warrington wrote that he is encouraged by the response of lawmakers. However, he added, “uncertainties associated with the legislative process” mean Amtrak must prepare for the possibility that it will not receive enough money to maintain current service.

He reiterated that the 18 trains in its long-distance network are “at high risk” and said other routes could also be cut if Amtrak’s appropriation is too low.

The 18 trains serve Amtrak’s longest routes and are among its biggest money-losers. Without them, travelers no longer could get on a train in the Northeast and connect all the way to California, or board in Florida and reach the Pacific Northwest.

Amtrak spokesman Bill Schulz said the intent of Warrington’s letter was to warn the governors about Amtrak’s uncertain future _ and the possibility of service cuts _ without creating confusion among prospective travelers that could result from elimination notices. amtrakpromotioncodenow.com amtrak promotion code

Warrington announced Feb. 1 that Amtrak would issue formal notices by March 29, reserving the authority to cut routes when the new fiscal year begins. Amtrak is generally required by law to give 180 days’ notice before it discontinues train service.

But in his letter to the governors, Warrington said such formal notice is not necessary “in circumstances like this, where train service rests on the availability of federal appropriations.” Transportation Department Inspector General Kenneth Mead reported in January that Amtrak lost $1.1 billion in 2001, the most in its 30-year history, and had made no progress toward meeting Congress’ 1997 order to wean itself from annual government operating subsidies by this December.

Since Warrington’s February announcement, Amtrak has made headway in convincing federal officials that the nation’s passenger rail system needs more money.

“My sense is that there’s now a sense of urgency in Congress that wasn’t there before,” said Amtrak Vice Chairman Michael Dukakis, the former governor of Massachusetts.

The Bush administration has proposed $521 million for Amtrak in fiscal year 2003, but Amtrak has received some key backing in its pleas for more money. web site amtrak promotion code

Mead said the railroad cannot maintain current operations with the funding proposed by Bush, the same amount Amtrak received this year. Deputy Transportation Secretary Michael Jackson told Congress it will take $2.5 billion to $3 billion in annual funding for rail “just to keep what we have.” And 28 senators have signed on to a bill by Sen. Ernest Hollings, D-S.C., that would devote $4.6 billion a year for the next five years to Amtrak operations, renovations to Amtrak-owned tracks in the Northeast and development of new high-speed corridors around the country.

A new proposal in the works by House Transportation Committee leaders would authorize $1 billion for Amtrak’s capital and operating expenses next year. Congress also would cover Amtrak’s annual obligation _ about $160 million _ to pay benefits for rail industry retirees.

In exchange, Amtrak would have to begin submitting an annual business plan to the Department of Transportation listing ridership, revenue and expense targets for individual business units and long-distance trains.

A spokesman for House Railroad subcommittee chairman Jack Quinn, R- N.Y., said the bill would buy Congress one more year to come up with a long-term plan for Amtrak and passenger rail.

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LAURENCE ARNOLD, Associated Press Writer

Corporate tax rate likely to be reduced, BUSINESS TIMES

Business Times (Malaysia) September 10, 2003 | Kang Siew Li 00-00-0000 COMPANIES can look forward to a cut in corporate tax as the present rate is no longer competitive, according to the Malaysian Institute of Taxation (MIT). The tax cut is likely, along with increases in personal reliefs and rebates in Budget 2004 to be tabled on Friday, said MIT’s vice-president Dr Veerinderjeet Singh. Veerinderjeet thinks Budget 2004 will include a reduction in corporate tax because the present 28 per cent rate is no longer deemed competitive.

The last reduction was for the 1998 assessment year. Since then, many countries around the world have been actively reducing their corporate tax rates in order to compete for foreign investment. Veerinderjeet said the tax changes are essential to keep Malaysia competitive in the long term and to attract companies to locate in the country. “We are aware that the Inland Revenue Board (IRB) will be concerned about the shortfall in tax collection resulting from the corporate tax cut. Thus, we should work towards a gradual reduction of the rate. “For example, reduce it by one percentage point each year over the next three years until it reaches what we consider to be ideal – 25 per cent,” Veerinderjeet told Business Times. Nonetheless, statistics have shown that in the mid-1990s, when the corporate tax rate was reduced by 4 per cent within two years, there was an improvement in the total Federal Government revenue collected from corporations and an increase in gross domestic product in the context of a growing economy. in our site corporate tax rate

“Given the current economic scenario, which is showing signs of improvement, obviously it will attract new investments and encourage foreign corporations to locate in Malaysia, thus spurring the economy. A reduction in the corporate tax rate will in fact bring an increase in the total revenue collected,” said Veerinderjeet. MIT submitted in May this year a pre-Budget memorandum to the Finance Ministry, recommending a reduction in the corporate tax rate from the present level of 28 per cent to 25 per cent. It believes that the lowering of the corporate tax rate can provide the impetus for locally-driven growth. This will lead to the collection of more taxes by the Government, and in time to come, the country will become more self-reliant and its growth will be less dependent on external factors. Veerinderjeet also sees Budget 2004 as an election budget – it will have something for the man on the street. “The Government can address this in two ways. Firstly, by granting a reduction in personal income tax. However, if you were to look at the trend in the past, the Government tends to cut the corporate tax rate first and personal income tax rate the following year. “It is therefore unlikely that we will see a reduction in both corporate and personal tax rates this year,” explained Veerinderjeet. However, an increase in personal reliefs and rebates looks more likely. “For example, in 1998, in a move to promote the acquisition of personal computers and computer literacy, the Government allowed an individual a single tax rebate of RM400 once every five years. We have proposed that the rebate be increased to RM1,000 and an individual be allowed to claim the rebate once every two years,” said Veerinderjeet. He added that other personal rebates which may see changes include that for the purchase of books and materials as well as personal reliefs on insurance premiums and contributions to Employees Provident Fund. Veerinderjeet expects Budget 2004 to also look at the small and medium enterprises (SMEs). Last year, the corporate tax rate was reduced to 20 per cent on the first RM100,000 of chargeable income for SMEs with a paid-up capital of less than RM2.5 million. “Unfortunately, that did not help the SMEs much because the actual tax savings were only some RM8,000. The general feeling about the reduction was that it was more of a token by the Government to show that it is aware of their contribution and is trying to help them. “Thus, in order to further promote the growth of SMEs, we feel that the threshold for the 20 per cent tax rate should be increased to RM500,000,” said Veerinderjeet. Another aspect which the Budget 2004 may look at is how the Malaysian Industrial Development Authority (Mida) can help generate or create more interest in Malaysia. Veerinderjeet pointed out that it is about time that Mida changes from a processing centre into a one-stop marketing centre. here corporate tax rate

WORLDSOURCES ONLINE, INC., A JOINT VENTURE OF FDCH, INC. AND WORLD TIMES, INC. NO PORTION OF MATERIALS CONTAINED HEREIN MAY BE USED IN ANY MEDIA WITHOUT ATTRIBUTION TO WORLDSOURCES ONLINE, INC.

Kang Siew Li

MARIE OSMOND, HUSBAND SPLIT.(News/National/International)

Rocky Mountain News (Denver, CO) January 18, 2000 Entertainer Marie Osmond, the co-host of the Donny & Marie Show, has split from her music producer-husband of 13 years. marieosmondwedding.com marie osmond wedding

In a statement released by her publicist, Osmond said that the separation from Brian Blosil was amicable.

“We hope the media will respect our privacy during this period of our lives,” Osmond said. Her publicist released no other details.

The couple had seven children, including several who were adopted. She also has a son from a previous marriage. in our site marie osmond wedding

Osmond gave birth in Provo, Utah, to the couple’s seventh child in July.

In October, Osmond revealed that after having the baby, she left her family for a few days in a bout of postpartum depression.

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Photo Marie Osmond.