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New York City / Financial Troubles / Pittsburgh / Fin. Solvency #38055

ABC Evening News for Monday, Jun 09, 1975
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(Studio) Agreement reached on forming corporation to help New York City out of present financial crisis. Municipal Assistant Corporation (Big MAC) to help city convert short-term debt into long-term bond if state legislature approves.
REPORTER: Harry Reasoner

(NYC) NYC's present financial plight caused by enormous power of mun. unions, city services, debt services load; details given.
REPORTER: Gregory Jackson

(Studio) Other cities have had better luck managing their fins.; Pittsburgh, Pennsylvania, incld. in group.
REPORTER: Harry Reasoner

(Pittsburgh, Pennsylvania) City has operated solidly in black for past 6 years As compared with NYC, Pittsburgh has no city-run hospitals; mass transit paid by state; community colleges operated by county with help from state; welfare paid by cnty., state, federal government [Pittsburgh MAYOR - says if NYC goes broke, all cities to be adversely affected.] Pittsburgh property taxes reduced; tax on wages totally eliminated.
REPORTER: Lem Tucker

Jackson, Gregory;
Reasoner, Harry;
Tucker, Lem

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