Word: rent
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Dates: during 1940-1949
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Though he had asked for a two-year extension and a stiffening of federal rent control, Truman hailed the new, 15-month local option bill as a triumph of "the joint efforts of the Congress and the Administration." The National Association of Real Estate Boards, in equally strange fashion, publicly praised the new rent law though they had privately complained to the President against it. The C.I.O., to confound the confusion, called the rent law "counter to the wishes of the people as expressed by President Truman . . ." The C.I.O. apparently hadn't got the word yet; at the moment...
...United Nations organization . . . has so far been rent and distracted by the antagonism of Soviet Russia and by the fundamental schism which has opened between communism and the rest of mankind. But we must not despair. We must persevere, and if the gulf continues to widen, we must make sure that the cause of freedom is defended by all the resources of combined forethought and superior science. Here lies the best hope of averting a third world struggle...
...Senate, taking its cue from the House, also decided to pass the buck for rent control back to the home folks. Led by Arkansas' Democrat Bill Fulbright, it voted a bill extending federal control for 15 months, but permitting any state, county, city or village government to vote out rent control locally, subject to the veto of state governors. All that was needed to finish the job was to iron out the conflicts between the Senate and House bills...
...extent of rent increases to be allowed was the only major conflict in the two bills. The Senate wanted a limit of two 5% jumps in twelve months, not to exceed an overall increase of 15% over the rental of June 1947. The House bill provided for a "reasonable return" to the landlord but didn't say how it was to be determined. In the end, Senate and House conferees compromised on a provision insuring landlords "a fair net operating income," to be determined by national and local rent officials...
...Administration, which wanted a two-year extension and stricter controls, glumly accepted the compromises as the best it could get. But what was safe enough for the rest of the country was not safe enough for the Congressmen themselves. Taking no chances, the House passed a rent-control bill for the District of Columbia (where about half the members of Congress are tenants), freezing rent ceilings for the next 15 months, retaining controls on hotel apartments, and allowing no second guessing by local boards...