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...Ford must sell his ideas to a highly critical crew of consulting physicians: the Democrats, who hold overwhelming control of Congress. The Democrats slapped together their own program for doctoring the economy, but it was an imprecise series of compromises that even party leaders concede will be tough to enact (see box page 19). Still, in announcing the program, House Speaker Carl Albert of Oklahoma said: "We mean business. We intend...

Author: /time Magazine | Title: THE RECESSION: Ford's Risky Plan Against Slumpflation | 1/27/1975 | See Source »

...Democrats enthusiastically agreed on the need for a big and fast tax cut. Indeed, within a couple of months they may well enact a deeper slash than Ford has asked. But they fear that the President's energy proposals would push prices .so high as to destroy the purchasing power that the tax reductions would create. Democratic Senator Adlai Stevenson III of Illinois estimates the chances of Ford's energy program getting through Congress as "zero...

Author: /time Magazine | Title: THE RECESSION: Ford's Risky Plan Against Slumpflation | 1/27/1975 | See Source »

...President will start by using his power to impose a $1-per-bbl. tariff on imported petroleum beginning Feb. 1, then raising it to $2 on March 1 and $3 on April 1. He also will ask Congress to enact a $2-per-bbl. tax on U.S.-produced crude, and an equivalent amount?370 per 1,000 cu. ft.?on natural gas piped across state lines. If and when Congress agrees to that, the tariff on foreign crude would drop back to $2. Finally, Ford plans to remove all price controls on domestically produced oil on April...

Author: /time Magazine | Title: THE RECESSION: Ford's Risky Plan Against Slumpflation | 1/27/1975 | See Source »

...range of autos that a manufacturer offers the public in 1980. The Administration will not ask for mandatory legislation, since automotive executives agreed to meet the goal at a recent meeting in Washington. If they fail to comply, however, the White House is expected to ask Congress to enact a law requiring the minimum mileage. In return for their cooperation, the Administration will ask Congress to grant the auto companies an extension of the deadline, from 1977 to 1981, for further purification of exhaust emissions?perhaps an overgenerous amendment to the Clean Air Act. But the companies argue that they...

Author: /time Magazine | Title: THE ADMINISTRATION: The Economy: Trying to Turn It Around | 1/20/1975 | See Source »

...Ervin Jr., 78, Democratic Senator from North Carolina for 20 years: "My greatest regret has been my inability to enact some very basic laws that would guarantee individual freedom. I believe that you ought to leave as much governing as possible to the people at the local level...

Author: /time Magazine | Title: POLITICS: Parting Words | 1/13/1975 | See Source »

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