Time Clock, Jun. 21, 1954

TAX REFORMS asked by Eisenhower are taking shape in committee and are almost sure to be passed this session. Among the benefits to business: faster write-offs, permission to carry back losses for two years instead of one. To individuals: a cut in dividend taxation, bigger deductions for doctors' bills.

TURBOCRUISER, a gas-turbine passenger bus, is being road-tested by General Motors Corp., but mass production of the bus is a long way off. Chief advantages of the vehicles: light weight, little vibration, use of a wide range of fuels, and clutchless operation. Drawbacks: high...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!