Newspaper Page Text
Page 10
— Griffin Daily News Friday, December 12,1975
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President Ford and several of his economic advisers hold
a White House meeting with four senators to discuss the
tax cut bill. After the meeting Sen. Russell Long, D-La.,
chairman of the Senate Finance Committee, told
newsmen they failed to reach a compromise on whether to
attach a spending ceiling to an extension of this year’s tax
cuts. At the meeting are clockwise from lower right: Sens.
Carl Curtis, R-Neb.; Edmund Muskie, D-Maine; Long;
and Henry Bellmon, R-Okla.; James Lynn, Director of the
Office of Management and Budget; William Seidman,
economic adviser to the President; Ford; and Alan
Greenspan, chairman of the council of Economic
Advisers. (UPI)
New York aid
Conferees agree
to $2.3-billion
WASHINGTON (UPI) -
Brushing aside suggestions for
a symbolic cut, House-Senate
conferees have agreed on a bill
providing a >2.3 billion loan
New York City says it needs to
stay solvent. Enactment is
expected next week despite a
last-ditch stand by opponents.
Sitting around a long, felt
covered table, senior members
of the House and Senate
appropriations committees
IKE QUIZKID.
Ideal for checking homework.
Because the child puts in a
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the answer's right. If his red
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occupy children < . AOB
for hours. J 4
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EQUIPMENT CO.
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Phone 227-4132
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toyed with the idea Thursday of
cutting the appropriation just to
demonstrate congressional dis
taste for helping cities that
spend themselves into trouble.
House Appropriations Chair
man George Mahon, D-Tex.,
said a cut would show the
committees were not rubber
stamps.
“From a standpoint of
imagery, it might be desira
ble,” he said.
But Sen. William Proxmire,
D-Wis., and other proponents
talked him out of it. “If we
shave it, I think we’re asking
for trouble,” Proxmire said.
“I’m not going to be an
obstructionist,” Mahon said,
relenting.
But Rep. Robert E. Bauman,
R-Md., said when the matter
reaches the House for final
approval early next week,
possibly Tuesday, he intends to
try — one last time — to kill or
reduce the aid program to keep
New York City solvent.
Bauman said he would move
to send the $10.3 billion
catchall, end-of-year appropria
tion back to the conferees with
instructions to cut the New
York money. Despite the
narrowness of the 213-203 vote
by which the House authorized
the loans last week, Bauman’s
effort was given little chance of
success.
Meantime, in Albany, Gov.
Hugh Carey, still worried about
possible default on Monday of
the state’s Housing Finance
Agency, announced the layoff of
7,000 state workers as an
economy measure.
—JCPenney—
big Pre-CHRisTMAS Sales.
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Tax relief bill destined for veto
WASHINGTON (UPI) — The
Senate Finance Committee has
prepared a modest tax relief
bill destined for a veto.
After a two-hour meeting
Thursday at the White House,
President Ford and Congres
sional leaders braced for what
may turn out to be the last
White House-Congress clash in
1975 and the political ripples
that will wash into the 1976
election year.
The President told four
senators who met with him that
he will veto legislation to
extend for six months the 1975
antirecession tax reductions if
the bill fails to include a
promise to put a lid on
spending in the fiscal year
beginning October, 1976.
And the senators warned they
were planning to go ahead and
pass their tax bill and then
round up the votes to override
a veto.
If the veto is sustained, taxes withheld next year will in- crease.
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