Ford backs utility tax aid plan to spur power plant buildup
President Ford endorsed a joint labor management plan for tax breaks to speed utility construction and reduce oil dependence. The plan, led by John Dunlop, seeks deferrals, higher investment credits, faster depreciation, and continued write-offs with a task force led by Frank Zarb to tackle project delays. The Edison Electric Institute hailed the moves as encouraging.
MENTIONED IN THIS ARTICLE
Washington
UPD
Ford
Labor Management Coun“Feil
John T. Dunlop
House
Ways and Means Committee
CIO
George Meany
United Auto Workers
Leonard Woodcock
General Motors
Richard C. Gerstenberg
U.S. Steel
R. Heath Larry
Dunlop
Capitol Hill
U.S. Factory Stock Decline Signals Production Rebound
A government report shows a two month clearance of unsold goods, with April inventory down 0.7 percent to 267.08 billion and sales up 2.1 percent signaling end of the recession. Automakers report mixed results as June sales approach last year’s levels despite Ford dropping 25 percent.
MENTIONED IN THIS ARTICLE
U.S
Commerce Department
Mellon Bank of Pittsburgh
Bank
Chrysler
American Motors
General Motors
Ford Motor
Simon attacks Congress on energy delays in Amsterdam
Treasury Secretary William E. Simon told an international finance conference in Amsterdam that Congress has shown unconscionable hawdling and delay on energy policy. He warned the U.S. could import up to 50 percent of its oil by 1980 unless the trend reverses.
MENTIONED IN THIS ARTICLE
Amsterdam
UPI
Treasury
William E. Simon
Congress
United States
Simon
Ford
America
U.S
Paris
Senate Finance Committee extends jobless aid with state rates
The Senate Finance Committee voted to extend unemployment benefits up to 65 weeks but cap them by state unemployment levels. Effective July 1, 1975, 65 weeks apply in states with 6 percent or higher insured unemployment. 52 weeks if 5 to 6 percent. 39 weeks if under 5 percent. The measure would run through March 31, 1977, with House version lasting to June 30, 1976.
MENTIONED IN THIS ARTICLE
Washington
Senate Finance Committee
Senate
House
John Dunlop
Dunlop
Congress
Return of the two dollar bill draws support from officials
Officials in Congress and the Treasury favor reintroducing the two dollar bill for the 1976 bicentennial, arguing wider public acceptance and cost savings. A Harvard study for the Fed found a majority oppose the idea, though Treasury Deputy Secretary Stephen Gardner and Assistant Secretary Liam Simon push for sizeable new issues.
MENTIONED IN THIS ARTICLE
Washington
Congress
Treasury Department
Stephen S. Gardner
The
Treasury
Gardner
William E. Simon
Benjamins. Rosenthal
D-N._Y
House
Commerce
Simon
Graduate Hood of Business Administration
Harvard University
Federal Reserve Board
House pushes energy bill tax cut action
The House voted 73 to 31 to approve an estimated 25 to 35 million dollar tax cut for Americans buying electric cars. The panel also defeated a 32 million dollar proposal for stove fuel tax cuts and rejected gas tax hikes while opting for civil penalties over fuel economy mandates. President Ford seeks a broader energy bill despite an impasse over oil imports.
MENTIONED IN THIS ARTICLE
House
al Ullman
Dore
Ullman
Ways and Means Committee
Ford
General Motors
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Sion
AFL
Independent
Press-Telegram
Long Beach
Calif
First Federal Sarvices
Ocean Ave
Oke
Rear Enrance
Ximeno Ave
Tete Oa
Kimball Whitney
Penny Owsley
California
Oxnard Esplanade Mall
Music Education Department
Wilshire Blvd
Los Angeles
Center Mall
City Mart
Fashion Park
Orange CO
Senate Unit
Somene Dee
James G. O'Hara
D-Mich
Thomas
Pema
Litton
Sat
Lincoln
Cypress
LOS Coyotes
Vari-Cook Pe
Ania - Zenith - Litton
Alamitos
Alamitos Blvd
U.S. Army
George Washington
Continental Army
United States Army
Panama Canal
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