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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Sep 11, 1974
Page
3
Air Pollution Control Officer Robert Lunche outlined a county smog rule targeting gasoline outlets. The measure, costing about 56 million for 10 000 service stations and 4 000 in home fueling facilities, aims to cut hydrocarbon emissions from filling auto tanks from 18 tons daily to about 1.8 tons when fully in effect.
The House panel began drafting a final tax reform package with a phase out of the oil depletion allowance and repeal of mineral depletion. It omits foreign tax credits and investment credits and would not raise the personal exemption from 750. Provisions include a 7 percent investment credit for home gardening tools, a cost-of-living adjusted living expense deduction for lawmakers, a 20 percent withholding on gambling winnings, and IRS audits of elected officials. Also restricts home business deductions unless self employed and home is used regularly for business.
Treasury Secretary Simon urged removing environmental restraints on energy and price controls. Interior Secretary Morton backed federal deregulation and a new Department of Energy. Alan Greenspan urged tighter money and surpluses. The NPC endorsed standby oil storage and emergency plans to cushion potential cutoffs in imports.
Washington markup begins on a Senate passed Bureau of Land Management bill. It would protect 11 million acres of California desert and grant BLM police powers, with a $40 million appropriation set for 1975 to 1978. The House Interior Committee drafts its version today amid internal splits over stricter language.
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