Word: maximum
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Dates: during 1970-1979
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...imported oil (now selling at about $12.50 per bbl. at Middle East ports). Full decontrol would send domestic oil prices up a third, and the Administration fears the political and inflationary impact. The probable compromise: a gradual relaxation of price controls with a ceiling, or "cap," on the maximum price...
Carter gave the U.S. delegation no authority to make any commitments to the Communists. Said Woodcock, an experienced labor bargainer: "There are very few negotiations that I've been in with as little leverage on our side." But the President ensured the delegation's maximum impact on the Vietnamese by sending over Americans whom they know well, including retired Senate Majority Leader Mike Mansfield and Mississippi Democrat G.V. ("Sonny") Montgomery, who led a House committee on a visit to Hanoi in 1975. After Woodcock reports back to Carter this week, the way will be clear for the State...
...credit would be small, it has become a symbolic issue in the eyes of many executives. But the House, in a misguided effort to spur employment, turned it down in favor of a "jobs tax credit": 40% of a newly hired worker's wages, up to a maximum of $1,680. The House put a ceiling of $40,000 on the credit any one employer could take, thus effectively limiting the benefits to small businesses, which do not do the most hiring. Democrat Lloyd Bentsen of Texas came up with a compromise that the Long committee bought: give businessmen...
...additional imports. It would raise tariffs on color TVs from 5% now to 25% for the next two years, then drop them back to 20% for an additional two years. The commission further would cut the quota on sugar, now 7 million tons, to a maximum of 4.4 million tons a year. Labor leaders, businessmen and politicians from regions hurt by imports -the Northeast in the case of shoes, the South for sugar, the East and West Coast for TV sets-have formed an alliance to press for these ideas. Last week the shoe industry sent Carter a petition signed...
CHILD CARE provisions are broadened, allowing many more working parents to offset baby-sitting costs. Through last year, a parent or couple could deduct up to $4,800 a year in child-care expenses; now they get a maximum tax credit of $400 a child (limit: $800). The credit can be taken by parents no matter how rich; the old deduction dwindled for people with incomes of $35,000 or more, and stopped altogether at $44,600. The credit is available to people who could not claim the deduction: for example, couples consisting of one worker and one student...