Word: recession
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...houses have been racing against an Easter-recess deadline; the legislators do not want to miss their two-week holiday. The tax-cut plan has been complicated by inclusion in the House bill of an amendment to kill the oil-depletion allowance, a move that Senate conservatives oppose. The outlook, though, is for passage of a tax and a compromise reduction in the oil-depletion allowance within two weeks-even if Congress has to postpone part of its recess. Probable size of the tax cut: about $27 billion...
...National Labor Relations Board has tentatively scheduled the Harvard-Boston Typographical Union hearing for March 5, when it will resume after nearly a month's recess. There may even be a further delay in the hearing, since the University wants it moved another week into March...
...Lincoln-Washington birthday recess is a congressional institution, but last week Congressmen back home for the ten-day holiday got an earful, and their ears were burning. What in the world were they doing at home, their constituents wanted to know, when the economy needed their full attention? "There is a real irritation around here that Congress recessed," reports New York Republican Peter Peyser. "People have been coming up to me and saying, 'Why aren't you down there doing something about all this?' " An aggrieved constituent told Virginia Republican Caldwell Butler: "Any policy is better than...
Flanagan said during a recess Friday, "Somebody isn't telling the truth...
...upper-level personal income taxes. Neither Democrats nor Republicans showed any interest. Representative Herman Schneebeli, ranking Republican on the House Ways and Means Committee, informed Treasury Secretary William Simon: "The fate of this surcharge rests on what the American people tell us while we are home" during the election recess. The answer was plainly...