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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Jan 14, 1975
Page
8
Congressional leaders clash on Ford energy and tax proposals. Reuss and Cranston back targeted rebates for low and middle incomes, while Ullman and Church warn of higher costs for consumers. Republicans praise the plan, urge careful price relief and careful revenue measures.
President Ford outlines a plan to raise 30 billion dollars in new taxes on oil and gas, cut the corporate tax from 48 to 42 percent, and send 12 percent of 1974 taxes as cash rebates to individuals. He proposes a 150 tax credit for home energy improvements and a one year spending moratorium except for energy.
The Air Force picks General Dynamics F16 for a lightweight fighter, with Pratt & Whitney to build the engine under a $55 million contract. Northrop expresses disappointment over losing the YF17 Cobra and contends European NATO interest remains. Potential job impact cited for California, while Northrop and McDonnell Douglas pursue a modified YF17 for the Navy.
Ford ads tout the Maverick as cheaper than the Dodge Dart Swinger and Plymouth Duster, matching Chrysler’s Car Clearance Carnival with rebates. Ford highlights a $303 gap to the Duster and $520 to the Dart Swinger, while offering a trade-in incentive through Wednesday.
White House officials said former president Richard Nixon will not be charged for any portion of his flight home to California after he resigned. The Defense Department will cover all costs of Air Force One, while Nixon’s belongings were reportedly restricted by law and court orders. Nixon attends a 62nd birthday party at San Clemente with guests including Victor Lasky and Robert Abplanalp. he appeared in good spirits.
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