Word: one-year
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...Mississippi the state legislature adopted a new one-year trial program of "separate but equal" public education for Negro and white children. Starting in July the state will consolidate hundreds of small local schools, equalize Negro and white teachers' pay, provide 600 new school buses. Estimated cost of the program: $34 million (regular annual school budget: $25 million), making Mississippi's 1954-55 outlay for education its biggest in history. Should the Supreme Court abolish segregation, a special legislative committee will advise Governor Hugh White on legal ways to circumvent the court's decision...
...refinancing $7.2 billion worth of maturing securities, an issue of one-year certificates bearing an interest rate of 11%, lowest since September...
...German student exchange program will be revived here by the Combined Charities Committee after a one-year lapse. Surplus funds of $1,300 will allow at least a two-student exchange between Harvard and the Free University of Berlin in place of the 12-man program from which the State Department withdrew its aid this year...
FREE TRADE program, inspired by the Randall report, is already running into trouble in Congress. Protectionist Congressmen show so little desire to go along with the Administration's program that Ike may end up with only a one-year "as is" extension of present Reciprocal Trade...
...inflation last year, the Administration cut spending sharply. The reverse of that coin has been an equally sharp cut this year in taxes. This has already put $6 billion a year into the hands of industry and consumers, including the cut in excise taxes, which was first opposed by the President, but finally approved "wholeheartedly." The Administration's tax reform bill now before Congress calls for another cut totaling $1.4 billion a year. Thus the total saving to taxpayers of $7.4 billion annually (less higher social security payments) would be the biggest one-year tax cut in U.S. history...