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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jan 21, 1976
Page
4
President Ford's fiscal 1975 budget shows unemployment compensation rose 87 percent above administration estimates due to the worst recession since World War II. The actual cost reached $14 billion versus a $75 billion forecast, with broader benefits for the poor and unemployed also exceeding prior projections by more than $10 billion.
President Ford unveiled a record 5.1 billion dollar energy budget for fiscal 1977 to speed new fuel industries and untapped power sources. The plan increases solar geothermal research conservation and nuclear waste studies while creating a 100 billion dollar government loan agency to back risky energy ventures.
President Ford proposes sweeping reductions across farm and rural programs in 1977. The Agriculture Department’s budget would drop to 10.759 billion from 14.214 billion this year, with cuts centered on nutrition, conservation and food stamp aid. A new consolidated conservation subsidy program would be funded at 90 million, replacing about 220 million in annual subsidies, while Congress has resisted removing 90 million of 175 million previously approved for conservation aid.
President Ford outlines fiscal 1977 budget cuts for the FBI and the Law Enforcement Assistance Administration. The FBI would receive 466 million dollars, 15 million less, while LEAA faces a 102.7 million reduction to 707.9 million. Ford says the moves force focus on significant crimes and cautious state and local aid.
President Ford outlined a fiscal 1977 budget proposing permanent tax reductions for individuals businesses and investors while suggesting taxes must rise in 1977 to bolster Social Security. He seeks new lender and builder tax advantages to boost mortgages and urban employment, with a projected $10 billion extra cut over three years if enacted. Congress skepticism cited as many proposals face prior rejection and Social Security funding remains unresolved.
President Ford asked Congress to reconsider his plan to eliminate federal school feeding subsidies for children above the poverty line. The proposal would fold 15 child aid programs into a single state administered block grant, cut total food aid by about 1.3 billion dollars for 1977, and reduce program outlays across food stamps and child nutrition.
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