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Economy / Phase II / Nixon Legis. #213365

CBS Evening News for Tuesday, Oct 19, 1971
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(Studio) President Nixon sends Congress legislature needed for phase II.
REPORTER: Walter Cronkite

(DC) President wants power to control wages, prices and rents through Spring 1973; wants standby power to control interest rates; has need of 3 judge federal court setup to handle appeals from wage and price bds. [Undersecretary Treasury Charles E. WALKER - says industry and business have to get permission from bds. to raise prices and wages; notes 2nd group wouldn't have economy concentration of 1st group, would report to bds. after the fact; 3rd group subject to controls.] President adviser, Don Rumsfeld, says proposed legislature in spirit of orderly decision making process by others.
REPORTER: Dan Rather

Cronkite, Walter;
Rather, Dan

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