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New York City Aid / Ford / Details #34999

ABC Evening News for Wednesday, Nov 26, 1975
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(Studio) In return for higher taxes and balancing its budget, President Ford to give some federal help to NYC.
REPORTER: Harry Reasoner

(DC) Ford's October 29, 1975, speech to National Press Club shown. [FORD - asks who'll bail out NYC.] Ford to claim his refusal of pre-default fed. rescue pressured city and New York state representatives to come up with plan. Expected to okay short-term loans.
REPORTER: Tom Jarriel

(NYC) New York legislature votes for higher taxes. New York Governor Hugh Carey says he'll take political repercussions from the voters. New Yorkers to pay 8% tax on pkg. cigarettes, to pay taxes for hair care and massage parlors. City banks to pay 14% on their profits. City workers will have to give 2% for their own pensions. Taxes should mean $200 million for city.
REPORTER: Lem Tucker

(Studio) New York and New York City bond prices rose.
REPORTER: Harry Reasoner

Reporter(s):
Jarriel, Tom;
Reasoner, Harry;
Tucker, Lem
Duration:
00:03:50

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