Word: capeharts
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President Victor Paz Estenssoro knew he would have his hands full one day last week. U.S. Senator Homer Capehart, chairman of the Senate Banking and Currency Committee, a man who might influence future U.S. aid to needy Bolivia, was due in La Paz on a study trip. And police intelligence agents reported that a plot to overthrow the government, long simmering and long spied on by the cops, had been moved up to coincide with Capehart's visit...
Indiana's Senator Homer Capehart, presiding over a 122-man business advisory committee meeting on foreign-trade policy in Washington last week, nodded toward the heavy eyebrows and invited John L. Lewis to say a few words. John L. rose, surveyed the businessmen surrounding him, and talked for 30 minutes without pause. When he sat down, his audience gave him the heaviest applause of the afternoon. Reason: without ever mentioning the horrid word "tariff," Lewis had managed to roll together all the old demagogic arguments against free trade and give them a fine, patriotic ring...
...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...