Big Bonanza

Laid low by layoffs in its coal pits and factories. Kentucky has approved the farthest-reaching of all state veterans' bonus bills and one of the first anywhere since the palmy post-Korea days. Beginning in April, the state will pay bonuses averaging $342 apiece and ranging up to $500 to every veteran of any of the last four wars (Spanish-American through Korea) who lived in Kentucky at the time he entered the service. Also eligible: veterans' widows, widowers, parents and orphaned children now under 18. Kentucky estimates that some 450,000 people will collect a bonus bonanza amounting to $136 million, but the total cost will be at least $260 million, counting administrative expenses and interest on bond issues. Kentuckians will be paying off that bill, through a new 3% sales tax, for 30 years.

This file is automatically generated by a robot program, so reader's discretion is required.