European Stars and Stripes (Newspaper) - January 17, 1990, Darmstadt, Hesse                                Wednesday january 17, 1990 the stars and stripes Page 7 Bush to propose fax free savings plan Washington a the Bush administration is gelling ready to offer a new Enric Emcil to americans to be Thrifty hoping to boost the country s Low savings rate with a tax free investment plan. The administration will ask Congress to create a new family savings account that would allow people to earn tax free interest and dividends on Money that is put away for a specified number of years administration officials said. These officials who spoke on Condi Tion that their names not be used said the savings account idea would be part of the president s 1991 budget due to be released Jan. 29. And would also be Fea tured in Bush s state of the Union address to Congress Jan. 31. The administration is touting the proposal As key to bolstering the country s lagging International economic fortunes by increasing the Pool of Money Avail Able for investment and thus lowering the costs . Businesses incur to expand and modernize. However Many private economists re main sceptical saying while the proposal would be a popular tax break for the Middle class it would do Little to boost Overall savings. Our past experience shows that these accounts Don t do very much Good in boosting  said David Wyss an economist with Dri Mcgraw Hill an economic consulting firm. The people who will take advantage of them would have saved  officials said that the Bush proposal is still being Fine tuned but they gave the following details of what the final plan is expected to look like. It will allow families to contribute As much As $5,000 a year and individuals to contribute As much As $2,500 annually. The accounts would be limited to families with incomes of less than $ 120.000 a year and to individuals making less than $60,000 annually. Taxpayers would not be Able to deduct their annual contributions to the accounts from their taxable income. But the interest and dividends would accumulate tax free. At the end of the required holding period the accumulated savings could be withdrawn and spent without any tax bite from Uncle Sam. Sources said the administration was still mulling How Long a period to re quire. Seven years was mentioned As the most Likely Choice although there was some sentiment for a longer period pos Sibly 10 years. The administration s plan would com Pete for support with a rival plan pushed by Texas sen. Lloyd bunt san a demo crat who is chairman of the Senate finance committee 3cntscn s plan would expand the Covert?.1 of the current individual retirement accounts or iras. All workers were allowed fully deduct Ible iras before passage of the 1986 tax overhaul. That Law made them available Only to workers not covered by a company pension and to covered workers with incomes under $25.000 and couples under $40.000. Partial deductions arc Al Lowed couples with incomes under $50.000 and individuals with incomes under $.15.000. Greatest pumpkin hink Oak of Annapolis my. Leans Over for a closer Nia farm show which has held earlier this month at look at this prize winning pumpkin at the Pennsylva Harrisburg. Jackson launches National Campaign for . Statehood Washington a Jesse Jackson calling statehood for the District of Columbia a main Stream Issue for everyone in the nation launched a Effort monday to gain the District s admittance to the Union. We need to go to work. Mobilizing people All Over the country. We want democracy and not Tyran  Jackson said. The new Campaign beginning on the National holi Day honouring slain civil rights Leader Martin Luther King jr., would give substance to the dream that King espoused he said. Jackson who moved to the District last year was joined at the opening of the Rainbow coalition s . Statehood office by local and National politicians. Local labor leaders and mayoral hopeful Sharon Pratt Dixon. The Campaign will focus on persuading those who voted for Jackson in the 1988 democratic presidential primaries to rally behind the statehood Effort. Jackson said. Roughly 7 million voters backed Jackson in the primaries. The civil rights Leader said he has already met with Senate majority Leader George Mitchell and House speaker Thomas s. Holey to push the statehood Issue. He said statehood supporters will write to each Mem Ber of c on Gross by feb. 1 to determine who supports i he idea. The Republican and democratic parties will also be asked to help and Jackson expressed Confidence that he will he Able to meet with president Bush to discuss the statehood Issue. Surely if he can Send our men and women to fight and die for democracy in Panama he will not deny democracy where he lives Jackson said. Jackson has been rumoured As a possible District of Columbia mayoral candidate but has publicly said he would Noi oppose Mavor Marion Barry in the upcoming election. The District currently has one non voting Delegate to the House of representatives. Nev. Commuter plane crashes All survive Elko Nev. A a sky Cal com Muter plane clipped a Mountaintop while trying to land during a snowstorm monday and plunged Down a Steep Hill Side injuring All 16 people on Board officials said. Most of the passengers walked away from the crash. Four were admitted to Elko general Hospital and 12 others were treated and released according to a nursing supervisor. All four of those hospitalized were in fair condition but the supervisor refused to discuss their injuries in detail or give any names. She said the worst injury was to the Captain a Phi was admitted with a broken leg and possible Chest injuries. Federal aviation administration officials said the plane. Flight 5855, was on a hop from Salt Lake City to Elko when it went Down at about 9 30 . West of the Airport in this northeastern Nevada town of 8,800. The wreckage was spotted by a Heli copter Pilot who returned to Elko to Fly medical personnel to the scene and to Airlift the most seriously injured to the Hospital. Right now i m feeling that the out come is wonderful said sky Cal presi Dent Jerry Atkin. The thing you Hope for in these situations is for All survivors. It s certainly unpleasant to have such a thing happen but i m very pleased with  there was no immediate clue As to the cause of the crash Alkin said from St. George Utah where the airline is based. He said the air plane involved was less than a scar old. The metro Iii twin engine Turboprop commuter plane carrying 14 passengers and two Crew members crashed when the Pilot was attempting an instrument Landing during a snowstorm. Ted Mcbride. The Rescue helicopter Pilot said the plane apparently just clipped the top of a 6,463-foot Summit about four Miles from the Airport. 1.328 feel below. He said if the plane had been just a few feet higher in would have cleared the Mountain. The plane then became airborne again briefly before skidding about a Quarter of a mile Down the sleep slope. Nicole Blohm of Elko a passenger aboard the plane said it was snowing heavily and she saw just a few glimpses of ground below her before the crash. Monday was the third anniversary of another sky Cal crash. A sky West com Muier plane on final approach to the Salt Lake City Airport collided with a smaller aircraft on Jan. 15, 1987, killing All 10 people in both planes and showering de Bris on a residential area. So Wesl serves 44 cities in Nevada Wyoming. Montana Idaho Colorado Utah. Arizona and California. Atkin said. It has 500 flights a Day and serves More than a million passengers a year. The metro Iii commuter plane is made by Fairchild aircraft corp. In san Antonio Texas and seals up to 20 peo ple. The Model has been in service since june 1980