Word: tariff
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Both houses of Congress also moved ahead with their energy plans. First, the Democrats gained time when the Senate, following the House, voted 66 to 28 to postpone for 90 days the President's three-stage, $3 per bbl. tariff increase on imported oil. Thus they cleared the way for enactment of an alternative program that will concentrate on reducing consumption without raising prices. Both houses have ad hoc committees working on energy programs. Said Texas Representative Jim Wright, who heads the House task force: "Relying on a tariff to cut domestic consumption is roughly analogous to a husband...
President Ford's proposal to put a $3 tariff on oil is unanimously regarded by economists to be inflationary and would deepen the recession. No program at all is better than a bad program...
...solutions presently being debated to cure our current ills range from gas rationing to crude-oil tariff increases (coupled with income tax rebates) to war with the Arab countries. Common sense indicates that you can also reduce gasoline consumption by making cars run more efficiently. Why not reduce clean-air standards to a reasonable level (as in 1971) and enjoy a 20% fuel savings without adding to inflation, creating more governmental bureaucracy or starting a useless...
During the week, Ullman quietly tried to negotiate a compromise with Ford to avoid a floor fight on the bill. Increasingly, it looked as if the President had enough Republican and conservative Democratic votes in the Senate to prevent an override of his veto of the tariff deferral. Even if they lacked the necessary votes, Republicans were prepared to filibuster and try to pick up enough support to prevent cloture. Ullman felt that the Democrats could live with the $1 bbl. oil increase if the President would hold off on the subsequent hikes...
...problem," admits Texas Representative Jim Wright. "We can't agree among ourselves. But we can't just be negative." Says a key Administration energy adviser: "If Congress comes up with a serious alternative, there's a possibility that the next step of the tariff could be delayed. But we've heard about 100 different opinions on which way to go. And no one up there seems to be exerting leadership. Even if we wanted to talk, we don't know whom to negotiate with...