Nixon tax hike idea faces stiff congressional opposition
Nixon floated a temporary refundable income tax increase and a flexible investment tax credit aimed at inflation fighting. House and Senate tax writers voiced skepticism and opposition, warning such measures would relinquish Congress’s power to set credits and may not be returned with interest. Mills and Bolong urged caution as inflation concerns persist. Arthur Burns, Fed chair, defended relying too much on monetary policy.
MENTIONED IN THIS ARTICLE
Washington
UPI
Nixon
Congress
House
Senate
Laird
Ways and Means Committee
Mills
Finance Committee
Russell Bo Long
D-La
Arthur M. Burns
House Banking Committee
Fed
Barrels of cyanide threaten Gulf Coast
The Coast Guard warned the Gulf Coast of possible deadly barrels of sodium and potassium cyanide dumped after a collision about 480 miles south of Pensacola. Barrels marked Dangerous Class 1 with 100 pounds of cyanide could be anywhere in the Gulf. storm currents raise scattering risk. Avoid touching or recovering any found barrels.
MENTIONED IN THIS ARTICLE
Gulf Coast
New Orleans
Coast Guard
United States Gulf Coast
Gulf of Mexico
Pensacola
Fla
Dela
Gulf
Lile Coast
Brownsville
Tex
Kes West
Flo
CIA Shakeup Aims Sharper World Estimates Under Colby
Washington AP Director William Colby restructures CIA to deliver sharper defense and world sector estimates for Nixon. He staffs about 10 National Intelligence Officers by subject area, replacing the old Board of National Estimates. The move centralizes dissent through Colby and maintains the US Intelligence Board at the top.
MENTIONED IN THIS ARTICLE
Washington
William E. Colby
CIA
Nixon
U.S
China
Soviet Union
Colby
Latin America
Board of National Estimates
Living Merchant
United States Intelligence Board
National Security Agency
Defense Intelligence Agency
Treasury and
State Departments
Aterie Energy Commission
FBI
Army
Navy
Air Force
Face-saving end to tapes dispute sought
President Nixon’s lawyers weigh a federal appeals court proposal for a face saving settlement of the Watergate tapes dispute. The court suggested that if the President and the special prosecutor agree on tape portions for the grand jury, it would avoid a ruling on constitutional questions while serving national interests.
MENTIONED IN THIS ARTICLE
Washington
Nixon
Watergate
Archibald Cow
Ashioe Nixon
Cox
Charles van Wright
Lsten
Grand
White House
Nivbn
Court of Appeals
Jude John J Sinica
Niven
Nios
Appeals Court
Wright
Oshkosh teachers authorize possible strike action
Northwestern reports the Oshkosh Education Association may call a strike if necessary as negotiations resume at 4 pm with the school board. An overwhelming majority approved authorizing the negotiating team to act, including concerted activities and informational picketing, while a mediator will be absent for now.
MENTIONED IN THIS ARTICLE
Judy Russell
Northwestern
Oshkosh Education Association
Board of Education
Todas Edthos
OBA
Perimendent
Musonle
OFA
Ecit
Thes
Vey
No end in sight to newsprint shortage
United Press International reports continued strain on US newsprint as Canadian mills struggle with strikes and rail blockades. Even with partial resumption, supply will not meet demand, with prices rising about ten percent. US mills run at full capacity despite logging slowdowns, while contracts and fringe benefits push costs higher.
MENTIONED IN THIS ARTICLE
United Press International
United States
LE Muon
Auc Vust
National Union
CUPID
Canada
Winter fuel allocation plan unlikely
Washington AP reports presidential energy adviser John A Love warns mandatory heating fuel allocation would not prevent shortages this winter and offers only a shared shortfall. House panel discusses mandated allocation urged by EPA administrator, while EPA seeks targeting of clean fuels to high-need areas under a voluntary plan.
MENTIONED IN THIS ARTICLE
Washington
John A Love
Love
Senate
House
Tao
House Commerce Committee
Russell EO Tram
EPA
Cooler Tonight With Clouds And Low Around Fifty
Partly cloudy and cooler conditions prevail tonight with overnight lows near 50 degrees. Details on page 2.
Move toward 10 percent prime rate gains pace
New York banks push toward a historic 10 per cent prime rate as First National City Bank and Wells Fargo raise rates. The moves mark the first step toward 10 per cent for large corporate borrowers since late last month, with hearings in progress and government probes watching the impact on broader lending rates.
MENTIONED IN THIS ARTICLE
New York
First National City Bank
Wells Fargo Bank of
San Francisco
Wells
Fargo
Citybank
Committee On
Wells Fargo
Also Mentioned on This Page
Melvin R. Laird
Arkansas
Wilbur D Mills
D-Ark
Federal Reserve
Chicago
Sdeal
UPI Telephoto
John Love
Lebanon
Winnebagoland
House Bank
Ing
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!