Price Freeze details from the White House briefing
Answers explain immediate price ceilings on farm level unprocessed agricultural products and exclude wages, interest, and dividends. Ceilings based on June highs, with exceptions only for extraordinary cases. Compliance includes price lists and public inspection, with penalties under existing law and export controls pending congressional authority.
MENTIONED IN THIS ARTICLE
White House
Committee On
Internal Revenue Service
Secretary of Commerce
Congress
Labor leaders doubt, but hope Nix plan may ease costs
Labor heads critique the presidents Friday speech as a retreat from Phase 1 and unlikely to fix the economy. Leonard Woodcock of the United Auto Workers says the plan won’t solve the nation’s problems while Abel of the United Steel Workers notes rising rents influence working families and deserve wage-aligned controls.
MENTIONED IN THIS ARTICLE
Leonard Woodcock
United Auto Workers
LW. Abel
United Steel Workers of America
Nixon speech at a glance on economic price controls
Washington UPI reports President Nixon announcing a 60 day freeze on prices at levels from the June peak while most major items remain under controls. The Price Stabilization measures compile new actions by the Cost of Living Council to curb food and gasoline costs. IRS to roll back unjustified price hikes. Congress urged to approve tariff cuts and sell surplus government stock.
MENTIONED IN THIS ARTICLE
Washington
UPI
Nixon
IRS
Congress
Wages, Prices Spar About Freezing Proposals
Readers react to Nixon price freeze talk with mixed views. Mrs. WS of Columbus recalls past scarcity while stressing support for a lasting safety net. Dee Jicksom of Raleigh laments high costs and questions timing. Mrs. Joan Sheets of Tarzana backs the freeze and urges stronger price controls and broader legislative action.
MENTIONED IN THIS ARTICLE
Joan Sheets
Targana
Calif
Wight Inflation Together
Truckers Oppose Higher Speed Limit Plan
In Burlingame AP reports trucking interests oppose a proposed rise in California speed limits. The California Trucking Association argues the change would harm fuel efficiency and road safety amid a broader conservation effort within the state.
MENTIONED IN THIS ARTICLE
Burlingame (Ap
Dn Assembly
California
Trumpet Fuel Trucking Association
Democrats critique Nixon price plan in Congress
Washington Democrats in Congress call President Nixon price plan too small and unhelpful while Republicans broadly support it. Representative Wright Patman, Democrat from Texas, chairs the committee in the discussion.
MENTIONED IN THIS ARTICLE
Washington
UPT
Congress
Nixon
Price Trewe
Yale
Rap
Wright Patnan D-Tiass
The
House parking committee voices on economic policy
A House committee chair argues many economic problems could have been avoided if the administration had not used strong arm lobbying to defeat effective controls or dared by Democrats last April. Gerald Ford praises the critique as right on target. Hygl Scott comments on the inflation impact and broader pricing issues.
MENTIONED IN THIS ARTICLE
House
Gerald Ford
Michigan
Sunale Gop
Hygl Scott
Pennaylyanig
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