Burns urges trimming all spending including Pentagon
Federal Reserve Board Chairman Arthur Burns urged Congress to cut federal spending below Ford recommendations and to scrutinize the defense budget. He said the Fed would permit a moderate money growth to fund deficits but avoid fueling inflation. He also pressed for a temporary tax cut and proposed tightening bank supervision.
MENTIONED IN THIS ARTICLE
Washington
Arthur F. Burns
Federal Reserve Board
Congress
Ford
Burns
House
Ways and Means Committee
Defense Department
Federal Reserve System
Aides Outline Cuts to Benefits for Aged Under Ford Plan
Ford plans cut food stamp aid starting March and seeks limits on Social Security raises in July. Congress may block both moves as aides warn of further reductions in aged benefits. Ford also requests deferral of 769 million and rescission of 1 billion in 1975 funds, while lawmakers press Nursing home abuse, social security freeze, and elder transportation needs.
MENTIONED IN THIS ARTICLE
Washington
UPI
America
Ford
Stanley B. Thomas Jr
Department of Health, Education and Welfare
Congress
House Agriculture Committee
Thomas
House
Subcommittee
John Brademas
D-Ind
Albany
Nelson A. Rockefeller
Vietnam
Select Education
Chrysler urges 90 day tax suspension on new cars plan
Chrysler Corp proposed a temporary repeal of Michigan's sales tax on new cars arguing a 90 to 120 day suspension would boost sales. General Motors did not back the proposal. Chairman Lynn Townsend testified before a state Senate taxation committee.
MENTIONED IN THIS ARTICLE
Lansing
Mich
Chrysler Corp
Michigan
Lynn Townsend
Senate
Chrysler Plants to Run Next Week Amid Mixed Automaker Cuts
Chrysler Corp. said seven of eight U.S. assembly plants will operate next week with one closed in Newark. AMC will build only the Pacer as layoffs total about 11,350 from a 18,750 workforce while several plants face large job losses. Industry expects a sales uptick and a shrinking idle payroll by March.
MENTIONED IN THIS ARTICLE
Detroit
UPI
Chrysler Corp
American Motors
Chrysler
U.S
Newark, del
AMC
Kenosha
Wis
Brampton
Ont
Milwaukee
Jeep
Toledo
Ohio
Cadillac recalls 74s over hood latch defect
Cadillac division of General Motors says it is recalling 234000 1974 model cars due to a hood latch issue that could cause the hood to pop open while driving. No accidents or injuries have been reported. Dealers will inspect and adjust latches at no cost to owners.
MENTIONED IN THIS ARTICLE
Detroit
UPI
Cadillac
General Motors
Also Mentioned on This Page
Frison
Pentagon
Treasury
William E. Simon
Senate Finance
Camp David
South Vietnam
Nguyen van Thieu
Nixon
Federal Reserve
Aide
Reyert
Savi
Ras ii Red Oo Ae
Sylvania
AIA
Los Coyotes
Long Beach
Lincoln Cypress
Baker’s TV
Pacific Ave
Pete
Fred
Joe Ward
E. Telegraph
la Mirada
Famous Makers
FBI
Los Cerritos
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