Simon says budget deficit no longer seen as likely
Washington Treasury Secretary William Simon said the expected federal deficit for the current year no longer appears to reach 80 billion dollars. He cited the tax reductions expiring and the economy's recovery pace as factors, noting rates may rise slightly but long rates could stay steady. He added there is no desire to extend the 1975 tax cut and stressed the need to balance deficit fears with cautious spending.
MENTIONED IN THIS ARTICLE
Simon
Washington
Treasury
William FE. Sitmon
Congress
U S Considers Regional Gas Pricing Flex Plan
The Federal Energy Administration weighs a plan to allow regional gasoline price differences up to two cents a gallon. Current rules require uniform pass through of refiners' cost increases nationwide. The proposal would let refiners shift price hikes by state while averaging 1.6 cents per gallon, pending final approval.
MENTIONED IN THIS ARTICLE
Washington
Federal Energy Administration
FEA
Frank Zarb
Ford
Auto makers oppose strict fuel economy standards in Senate hearing
Bord GM and Chrysler warned before the Senate Finance Committee that hard fuel economy mandates would crush the industry, raise car prices and cause unemployment. They urged adopting Ford's voluntary program and keeping current emission rules, arguing the 18.5 mpg by 1978 goal cannot be met without crippling car sizes.
MENTIONED IN THIS ARTICLE
Elliott M. Estes
Congress
Estes
Chrysler
Alan G. Loof- Turrow
Ford
F. G. Secrest
Secrest
Senate
House
Ex-major to face jury in oil fraud case
Ex-Army Major David C. Simmons, a former civilian chief in Saigon for the Defense Department’s Petroleum, Oil and Lubricants Section, faces a grand jury after a magistrate found probable cause in a $1.2 million fraud involving false Vietnam oil shipments. He could be tried in U.S. District Court or by grand jury indictment.
MENTIONED IN THIS ARTICLE
Simmons
Justice Department
U.S
Hong Kong
U.S. District Court
Defense Department
Petroleum
Saigon
National Bank of Vietnam
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Aly
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Laie
Ergu
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West
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