Labor Dept Delays Youth Employment Standards Regulations
The Labor Department will delay new rules for 14 and 15 year olds amid congressional pressure. Deputy Under Secretary Robert B. Collyer told a House subcommittee the comment period grows from 30 to 180 days, with broad public input and discussions with business groups, labor, educators, and officials before proposing superseding rules. The Reagan plan would raise daily and weekly hours and extend teen night hours. witnesses warned of potential downsides.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Congress
Robert B. Collyer
Labor
House Labor Standards Subcommittee
Collyer
Withholding plan faces critical opposition from industry leaders
National Association of Federal Credit Unions executive vice president Mal Nestlerode says savers will lose money under the 10 percent withholding plan for interest and dividends, while administration officials defend the tax package as increasing revenue without raising taxes. Citibank analysis cites $1.5 to $2 billion loss to savers and up to $1 billion in lost taxes from untaxed earnings. Opponents warn higher compliance costs will be passed to consumers through lower interest and fees.
MENTIONED IN THIS ARTICLE
Sally Jacobsen
Associated Press
Mal Nestlerode
National Association of Federal Credit Unions
Nestlerode
Senate House
Robert McCormick
Independent Bankers Association of America
New York
Citibank
American Bankers Association
McCormick
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