CBS Evening News for Friday, Jul 25, 1975
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(Studio) President Ford proposes compromise oil price control plan. Gets mixed Demo reaction in Congress
REPORTER: Walter Cronkite
(DC) President' plan explained. Gasoline price increase involved. [President FORD - explains plan as step to curb United States dependence on foreign oil. Windfall profits tax, tax rebates to United States people include Believes plan good for US econ.] Demos dispute Ford. [Representative Thomas O'NEILL - predicts Ford plan to be defeated in House Believes oil price controls to go off by August 31 unless President changes stand. [Senator Henry JACKSON - believes Ford will change plan due to public reaction.] President aides believe veto will come on extension of controls. Gasoline price increase to be dramatic if controls go off August 31.
REPORTER: Robert Pierpoint
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