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Estate Taxes
There are moves underway in Congress to either eliminate or scale back the estate tax. Many law makers believe the tax has outlived its usefulness. They argue that the government is confiscating the hard-won earnings of people of relatively modest means -- particularly farmers. But opponents of eliminating the tax says it affects on a very small percentage of farmers. NPR's Kathleen Schalch reports.
Rebuilding Beirut
NPR's Eric Weiner reports that after having been destroyed by 17 years of civil war, the Lebanese capital of Beirut is rising from its ashes in a $2 billion dollar project that hopes to restore the ancient city to its pre-civil war glory. Not everyone, however, is happy about how the project is being conducted and whose interest it is serving.
American Airlines: Deadline Looming
NPR's Jim Zarroli speaks with Robert about the state of negotiations in the effort to avert a strike by pilots of American Airlines. Federal negotiators report no substantive progress in the talks. Unless President Clinton intervenes, American could go on strike at midnight tonight, stranding travelers all over the world.
New Cabinet
NPR's Andy Bowers reports that as the summit with President Clinton in Helsinki approaches, President Boris Yeltsin has named an unabashedly liberal and reform-minded new cabinet to try to revive Russia's stalled economy. The cabinet was announced as Yeltsin again attacked US plans for expanding NATO to Russia's borders, and warned that only trouble could come from such an action.
Ny District
Laura Sydell of member station WNYC reports on the oddly shaped Congressional district in Queens which is represented by Nydia Velaquez. (NID-e-uh vel-LAZ-kez) When drawn on a map, it's said to remind people of Bullwinkle. The majority Hispanic district is the most recent to be struck down by the courts as unconstitutional because it was constructed along racial and ethnic lines.
Irs Changes
The Treasury Department is proposing changes at the Internal Revenue Service, which are aimed at quieting criticism from Congress. Critics say the IRS is mismanaged and treats taxpayers badly. The plan includes a permanent Treasury Department oversight panel, an advisory board of private sector experts, a more-predictable funding system, and greater flexibility in hiring and assigning managers. NPR's Kathleen Schalch reports.
Endangered Species
NPR's John Nielsen reports on today's ruling by the Supreme Court that will allow property owners broader freedom to sue the government over enforcement of the Endangered Species Act. Property owners hailed the victory, saying that federal enforcement of the law is too heavy-handed and has caused numerous farmers and businesses to go bankrupt. Reaction from environmentalists was mixed.
Flood Update
Much of western Minnesota is frozen in ice or under freezing water, with thousands of residents forced out of their homes and thousands more without power. Rivers throughout Minnesota and North Dakota are swollen from runoff from melting snow, and a cold snap has complicated the problems as the floodwaters have begun to freeze. Minnesota Public Radio's Mark Zdechlik reports.
Arafat's Meeting
Daniel speaks with reporter Laurie Neff about the meeting of European, Arab, American and Japanese diplomats in Gaza today to discuss the faltering Middle East peace process. Neff says Palestinian leader Yasir Arafat called the meeting to vent his anger over Israeli plans to build more Jewish settlement in East Jerusalem, but its unclear whether the gathering achieved anything.
New Members Of Dow
NPR's John Ydstie reports that Dow Jones is changing the roster of companies that are included in the Dow Jones Industrial Average. The four newcomers are: Travellers Group, Hewlett-Packard, Johnson and Johnson and Wal-Mart. The Average is actually an index, and despite its flaws, it is still the most closely watched index in all the financial markets.
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