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New York City Aid / Ford / Congress / Reaction #237754

CBS Evening News for Wednesday, Nov 19, 1975
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(Studio) President Ford says he's convinced all ptys. can look to satisfactory resolution if New York conts. to move towards fiscal responsibility.
REPORTER: Walter Cronkite

(DC) [Press Secretary Ron NESSEN - says Ford won't tell New York and New York City how to correct their economy problems.] [Chairperson House Banking Committee Henry REUSS - says Ford doesn't do well as right-wing extremist. Refers to Ford trying to out-Reagan Ronald Reagan.]
REPORTER: Bob Schieffer

(Studio) Admin. source says $200 million increase in city taxes might prompt Ford to action.
REPORTER: Walter Cronkite

(DC) New York City Mayor Abraham Beame visits Congress; he recs. word of no federal aid. [New York Governor Hugh CAREY - hopes we'll make it through Thanksgiving. Will have difficulty in meeting 1st December payroll; also with payrolls due even sooner. Notes are due December 11.]
REPORTER: Robert Schakne

(NYC) [New York City comptroller Harrison GOLDIN - says package keeping city together until early December could fall apart.]
REPORTER: Robert Schakne

(Albany, New York) New York legislature unsure of passing bill for higher taxes unless federal help promised. [New York assembly speaker Stanley STEINGUT - doubts if legislature will go along with tax. Ford could have been more definitive.] $80 million needed for next week's payroll. $70 million needed for teachers in 1st week December $439 million in notes due December 11.
REPORTER: Robert Schakne (WTEN-TV)

(Studio) United States government did pay New York City the $1 million it borrowed from city during War of 1812.
REPORTER: Walter Cronkite

Reporter(s):
Cronkite, Walter;
Schakne, Robert;
Schieffer, Bob
Duration:
00:04:50

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