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Oil / Ford Veto / Gasoline Prices #241086

CBS Evening News for Monday, Jul 21, 1975
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(Studio) President Ford vetoes bill to keep price controls on "old" oil and roll back and put ceiling on "new" oil prices.
REPORTER: Walter Cronkite

(DC) Chairperson Council Econ. Advisers, Alan Greenspan, says veto could cause 7 cents/gal. gasoline rise in 6 mos. Says action won't affect economy recovery, since President plan would do same thing over longer period. [GREENSPAN - says no significant impact on recovery. Price rise won't occur right away.] Republican House leader John Rhodes tells President he has votes to sustain veto but not to approve Ford's plan for gradual decontrol.
REPORTER: Bob Schieffer

Cronkite, Walter;
Schieffer, Bob

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