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Newspaper
Lamesa Press Reporter
Location
Lamesa, Texas, United States of America
Date
Oct 26, 1972
Page
2
Editorial urges caution as new summer laws boost benefits by 20 percent and set automatic payroll tax and benefit adjustments after 1974. Business Week notes payroll tax growth from 2.9 to 43 billion and benefits rising 37-fold to 37.9 billion, now about 20 percent of federal expenditures.
Gov. Preston Smith says the special session produced limited insurance reforms and outlines other actions. He declines to recall lawmakers, noting continued work on a deep draft offshore port and regulatory changes. The report lists funding for education and agriculture projects and notes upcoming fundraising and report meetings.
The Legislature passed a bill to lower hurricane windstorm insurance pool rates for coastal areas and pursued a constitutional convention on anti-busing amendments. Eight straight months maintain oil allowable at 100 percent for November with output around 3.5 million barrels per day and stocks at 97.6 million as of October 6.
The piece argues private charities operate with varying standards and calls for reform rather than dismantling welfare efforts. It praises the Salvation Army for low overhead, cites the need for financial discipline, and notes YMCA and Boy Scouts adopting accounting norms amid rising costs and expanding facilities. The article mentions a clothing plant expansion and forecasted high business volumes for Dotty Dan.
Fans pack Cub Stadium for a 7:30 p.m. Friday kickoff as Brownfield Giants clash with the Brownfield Cubs in a high stakes district showdown. Brownfield looks to rebound after a strong 26-0 win while Lamesa eyes key games ahead and Sweetwater lingers in the title race.
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