Eisenhower to Consider Tax Cuts as Recession Deepens
President Eisenhower held talks with advisers as AFL-CIO leaders pressed for immediate tax cuts and more public works. The Defense Department announced a 10 billion dollar defense spending plan for the first half of the year, four billion more than late 1957. Federal Reserve data showed gains in store sales and FHA housing loan applications, signaling spending and construction optimism amid a worsening downturn.
MENTIONED IN THIS ARTICLE
Washington (Ap
Eisenhower
Afl-Cio
White House
Defense Department
Federal Reserve Board
Federal Housing Administration
George Meany
Meany
Securities Commission
University of Michigan
Vey Research Center
Senate panel approves 1.5 billion road fund plan
The Senate Public Works subcommittee approved an anti recession roads bill by 8 to 1, pledging an extra 1.5 billion for highway funds this year. Gore predicted full committee and Senate approval next week, with 900 million more for interstate allocations and 490 million for primary, secondary and urban roads, boosting totals to 2.5 billion for interstate and 875 million for other roads.
MENTIONED IN THIS ARTICLE
Washington
Senate Public Works
Albert Gore
Dtenn
Public Works
Gore
Senate
Francis Case
R-Bc
GOP
Defiant Senate Votes to Freeze Farm Pegs
The Senate voted 50 to 43 against cutting farm price supports this year and also rejected a separate bill freezing dairy supports. The measure would have kept supports at or above last year’s levels and barred acreage reductions below 1957 levels, with votes split largely along party lines. Secretary Benson criticized the move and hinted at a veto if it reached the White House.
MENTIONED IN THIS ARTICLE
Washington
Eisenhower ‘Administration
Senate
Imargin
House
Benson
Eisenhower
Bank pledges 100.8 million for Tokyo warehouse mortgage plan
Chase Manhattan Bank announced it would allocate 100.8 million dollars to a Tokyo housing program on February 1. The plan targets warehouse mortgages amid a population surge and gender balance concerns.
MENTIONED IN THIS ARTICLE
New York
Tokyo
Chase Manhattan Bank
California proposes $200 million state building bond
SACRAMENTO UI-Cor Goodwin J Knight Thursday proposed a 200 million dollar state building bond issued as positive action to expand employment in California. The bond would be submitted to voters in November if it passes and aims to keep the capital outlay program advancing while the economy recovers, funding colleges prisons youth authority facilities and mental hospitals.
MENTIONED IN THIS ARTICLE
Sacramento
Ui—Cor
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Bollhown
Dougthit Douglas
L. B
Oks Road Fund
Sen
Russell
D-Ga
Bank
Frigiwaine
Ill
Frigidaire Appliances
CASH
Frigidaire Refrig
Saga
CuoFi
Xira
GMAC
Atlantic Ave
FORD
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