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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
May 26, 1976
Page
4
Senate Finance Committee approved a tax credit up to 225 dollars for insulating homes and up to 2000 dollars for solar electrothermal equipment. The panel also added a bribery crackdown and allowed eight years to carry forward unused operating losses while trimming other provisions.
The committee voted last week to deny for one year any firm that cooperates with or participates in the Arab boycott of Israel and involves American Jewish businessmen, restricting benefits to those not aligned with the boycott.
A congressional budget office study says the Full Employment and Balanced Growth Act of 1976 could cost 16.6 to 441.1 billion dollars and trigger substantially higher inflation. It notes difficulty in precise analysis and warns a large public works program could spawn a large unwieldy bureaucracy. The measure aims to cut adult unemployment from 7.4 to 3 percent by 1980 and is a major Democratic platform plank led by Hubert Humphrey and Augustus Hawkins.
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