Word: capehart
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Dates: during 1950-1959
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...Randall commission, now organizing, is not due to report until early next year. Meanwhile, Indiana's protection-minded Senator Homer Capehart, present at the World Bank and Monetary Fund sessions, broadly hinted that Randall might not have the last word anyhow. "Watch my committee," Capehart told newsmen. "We are going to put out a better report than the Randall committee." Asked if his recommendations would differ considerably from Randall's, Capehart was owlish. "I wouldn't .be surprised," he said. "I wouldn't be surprised...
Indiana's Senator Homer Capehart has already introduced a bill to make quick amortization permanent, and extend it to all industries, whether necessary for defense or not. There are some obstacles to any such blanket extension. The biggest is that the immediate loss in tax revenue would be far more than the Treasury could stand. Tax experts put it at $2 billion the first year of such a plan and as high as $10 billion in the fifth year. Tax losses during the write-off period would never be recouped from many industries after the equipment was paid...
...Federal Trade Commission has reversed the stand it took under the Democrats on price-cutting. The FTC now supports the Capehart bill, which would make price cuts by companies legal when done in "good faith" (i.e., if the cuts were necessary to meet competition). FTC is now also in favor of allowing absorption of freight charges by a seller, a practice ruled illegal by the Supreme Court in its 1948 basing point decision. (TIME...
...Homer Capehart...
...Amended Senator Homer Capehart's standby controls bill, gave Congress, not the President, the power to throw the switch on controls in case of a grave national emergency, then passed the bill and sent it on to the House...