Demos condemn Ford tax cut plan as too large
Two congressional leaders criticized President Ford's proposed 28 billion tax cut. Sen. William Proxmire said the plan was timed to influence the 1976 election and would not win congressional approval. Rep. George Mahon called the cut too large and warned against permanent adoption.
MENTIONED IN THIS ARTICLE
Washington
Ford
William Proxmire
D-Wis
Proxmire
Senate Banking Committee
George H. Mahon
House Appropriations Committee
Mahon
Pentagon
Defense Department
Abc-Tv
Congress
Sinai
Israel
Egypt
Ford tax plan ends experiment to aid the poor
President Ford’s tax proposal would repeal an experimental approach to assist the working poor through a 10 percent cash refund of Social Security taxes. The plan would tie aid to earnings, with phased reductions and safeguards to target families with children earning up to $8,000, and first payments projected for 1976 based on 1975 income.
MENTIONED IN THIS ARTICLE
Washington
UPI
Ford
America
Milton Friedman
Johnson
Nixon
Treasury
Venezuela to set terms for oil takeover rulings
Venezuela plans to offer formal compensation of about 900 million dollars to twenty nine oil firms for nationalized holdings. Details and terms will be released this week. Firms must hand over concessions and property by December 31 under the oil nationalization law. The state will run the industry via Petroleos de Venezuela, with private firms supplying expertise and marketing oil abroad.
MENTIONED IN THIS ARTICLE
Caracas
Venezuela
Congress
Carlos Andres Perez
Petroleos de Venezuela
Percy urges speedup in jobless benefit payments
Sen. Charles H. Percy urged the Labor Department to speed unemployment benefit disbursement citing months long waits. He proposed a federal complaint bureau and incentives for states to improve efficiency with an early warning system for monitors, noting 14 percent standard and long delays for movers between states.
MENTIONED IN THIS ARTICLE
Washington
UPI
Charles H. Percy
R-Ill
Labor Department
Percy
Labor
John T. Dunlop
New PAT program cuts hospital costs before admission
A Blue Cross supported system called Pre-Admission Testing shifts diagnostic tests to outpatient days before surgery. It reduces hospital stays, frees beds, lowers overall costs, and speeds access to test results for doctors, patients, and insurers.
MENTIONED IN THIS ARTICLE
Blue Cross
Walter J. McNerney
The
Blue Cross Assa
PAT
Des Moines
Pennsylvania
Banks Court Elderly With Direct Social Security Deposits
The direct deposit program lets Social Security checks go to recipients’ banks, speeding access and reducing fraud. By November enrollment is expected to reach 10 percent, with 1.9 million of 28.5 million already enrolled and banks promising prompt deposits and expanded services.
MENTIONED IN THIS ARTICLE
Washington
U.S. Treasury
American Association of Retired Persons
Treasury Department
Treasury
James Sullivan
Sullivan
Ing
Senate rush to suspend home buyers rights draws CFA critique
The Consumer Federation of America criticized the Senate for rushing a bill to suspend key disclosure rights under Truth in Lending and Real Estate Settlement Procedures Acts. If enacted, the measure would pause 12 day advance cost disclosures for one year, pending House action and a presidential signature, amid lender and consumer concerns.
MENTIONED IN THIS ARTICLE
Washington
UPI
Consumer Federation of America
Senate
CFA
Kathleen O’reilly
Senate Banking Committee
House
Ford
Congress
Understanding stock sales and company finance explained
The explanation clarifies that a stock trade is a transfer between investors and does not directly fund the company. When a company goes public it sells shares to raise capital, but after that one big cash event the company no longer receives money from subsequent trades. Dividends depend on share ownership. Also discusses misinterpreted investment yields and clarifies there is no 90 percent monthly return.
Food aid linked to global energy plan urged
Washington report from congressional advisers to the U N Special Session says food production in developing nations hinges on a workable world energy strategy. It calls US and oil exporters to propose substantive energy solutions to help these countries achieve food self sufficiency.
MENTIONED IN THIS ARTICLE
Washington
United Nations
United States
U.N
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Kuwait
Oil Ministry
British Petroleum
Gulf Oil of America
U.S
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By Sylvia Porter
the Daily Investor
Energy
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