Word: buts
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Dates: during 1970-1979
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But there was a small glimmer of hope in Washington last week. Showing welcome signs of moving more directly and forcefully to curb energy use, the White House was considering a high federal excise tax on gasoline, perhaps as much as 50? per gal.
The five-man group favored a high tax but could not agree on the particulars. So each member sent a separate proposal to Carter. The differences revolve around the size and timing of the tax and how to distribute the projected $50 billion in revenues that it would collect. One...
Whether by taxation or rationing, cutting back on gasoline would jolt an economy in which the jobs of one worker in seven somehow spin around the automotive industry. Millions of Americans not only build, sell and service cars but also supply the tires, windows and other parts, construct highways, drive...
Sales of cars would slide still farther. The biggest vehicles, which produce the fattest profits for manufacturers and dealers, would be the worst hurt. Small cars would increase their market share, which now is more than 50%. Among Detroit's Big Three, ailing Chrysler Corp. would fare the worst...
More immediately, large segments of the nation would suffer from the decline in driving and in demand for cars. The old manufacturing centers of the Midwest and East-steelmaking Pittsburgh and Youngstown, tiremaking Akron, glassmaking Toledo, many others-rise or decline along with the fortunes of autos. St. Louis, Kansas...