Word: wages
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Dates: during 1970-1979
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...Reuss who urged the U.S. to break the relationship between the dollar and gold that helped set the stage for devaluation of the dollar in 1971. He also proposed legislation in 1970 that gave the President standby authority to impose wage and price controls. Reuss is a convinced environmentalist. Four years ago, he seized on an 1899 act that prohibited the dumping of wastes into interstate waterways and put it to use in the antipollution movement...
Hays' animosity contrasted with the reaction of the rejected Hébert. He had at first bitterly threatened to wage a floor fight to keep his chairmanship of Armed Services. This would have involved currying Republican votes to overturn a decision of the Democratic caucus. As party leaders, Albert and O'Neill announced sternly that if Hébert did so, he would be expelled from the party caucus and lose his seniority in the House, as well as his chairmanship. Hébert then not only abandoned the fight but sent words of thanks to Albert...
...auto firms have given no indication that the rebates might be extended. Nor are actual cuts in list prices likely. Part of the reason is that the industry wants to have those hefty sticker prices in effect in case wage and price controls are imposed later on in the year. In addition, the automakers still contend that the high prices are justified by increased material and labor costs. In view of the still dismal state of the business, however, they may have to make yet another agonizing reappraisal of their position. Reason: unless auto sales pick up appreciably this year...
...start. Innumerable products made partly from oil would also go up: plastics, chemicals, fertilizers. Higher fuel bills could force up airline fares and freight rates. The greater bills for heating and lighting factories and buying electricity to run machinery could drive up the cost of almost every product. Even wage costs could be raised; many union contracts tie wages partly to the consumer price index, which will be kicked up by the fuel increases...
...WAGE-PRICE CONTROLS...