Word: money
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Dates: during 1960-1969
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...plans, beginning January 21, 1966. The Civil Aeronautics Board not only approved a Youth Fare scheme; it dismissed the complaints filed by the other airlines who wanted to see Youth Fare killed in its infancy. (Bonanza and several other carriers had tried Youth Fare briefly in 1961, but lost money on the service...
...fare," by traditional CAB idiom, is not one that is too high: it is a fare that clearly does not allow the airline to cover the cost of transporting the ticket-holder. For competitive reasons, an airline might conceivably want to introduce such a fare; even though it lost money, it would lure customers away from the competitor and thereby increase "brand identification." The "reasonableness test" attempts to preclude such cut-throat tactics. To the CAB and the airlines, a fare is "reasonable" if it passes the "profit-impact" test: the revenues generated by the fare must excede the combined...
...most pressing of these issues concerns the relationship of federal highways to mass transportation systems and what should be the federal role in financing the two. Last month Rep. John Bingham (D-N.Y.) introduced in the House a bill to help finance mass transportation with money which now goes to highways. Highway construction money comes out of a special trust fund which was set up only after the most intricate and laborious legislative maneuverings. Bingham's bill proposes to use money from this highway trust fund for mass transportation needs, such as building and improving subway systems. Bingham...
...Ways and Means Committee of the House of Representatives is in charge of procuring revenue for use by the federal government. The committee responsible for designating how this money will be spent is the Appropriations Committee. Since the setting up of a special trust fund involves both the raising and spending of money, both committees are involved. When the highway fund was set up the two committees held simultaneous hearings and worked together to write the bill. It was a most difficult process to get these two powerful, jealous and sensitive committees and their chairmen to work together...
...there is to be a special fund for mass transportation or if money from the highway fund is to be used for urban transit, the proposal will have to get strong backing from the administration. President Nixon has apparently not yet made any decision on the matter. But from the past records of Volpe and Turner it seems unlikely that Nixon is being advised to cut highway funds in favor of mass transportation...