Economy shows steady February gains in industry housing
Washington AP reports February industrial output rose six tenths of a percent led by durable goods autos and appliances. Housing starts jumped 27 percent to 1.55 million annual units while construction permits rose 4 percent to 1.13 million. New York City meanwhile borrows 70 million federal loan, totaling 1.26 billion for the year under an emergency plan.
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Kennedy urges cutting tax breaks to shrink deficit
Senator Edward Kennedy told the Senate Budget Committee that tax expenditures for individuals and business may surpass defense spending by 1980. He proposed reducing net costs by 2 billion dollars to fund jobs health programs or further tax cuts, as House and Senate panels consider cuts and a 101 billion dollar tax expenditure cost in 1977.
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