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President Cong. Energy, Economy Programs / Compromise #482020

NBC Evening News for Tuesday, Mar 04, 1975
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(Studio) President to delay for 60 days further increases on foreign oil; also postpones plan to decontrol domestically produced oil. - At same time, Mr. Ford vetoes bill that would have required him to remove tariff on for. oil. All this should clear way for quicker tax cut.
REPORTER: John Chancellor

(White House) [PRES. - says he's postponing oil tariff increases so Congress can speedily enact income tax cut. Substantial tax cut needed to revive econ.] Federal Energy Administration Frank Zarb says $1 per barrel tariff already on imported oil to remain as is. [ZARB - says postponement of tariff increase to give Congress and President time to come to an agreement, hopefully.] President won't attempt to decontrol domestic oil till May 1.
REPORTER: Tom Brokaw

(Studio) In general, President' actions well-received by congress Democrats Democrats must agree on their plan before cooperation can really begin. Democratic leadership's energy plan compared with Al Ullman's House Ways and Means Committee's plan.
REPORTER: John Chancellor

(Capitol Hill) [Senator John PASTORE - thinks Congress should stop talking and begin acting. Doesn't think Ullman's plan acceptable for basis of compromise.] [ULLMAN - commends President' cooperativeness. Thinks his plan should be primary basis for agreement.]
REPORTER: No reporter given

(Studio) Later Pastore and Ullman have friendly meeting, but there are problems.
REPORTER: John Chancellor

(Capitol Hill) [John CHANCELLOR - asks if Congress to support President in veto of tariff bill.] House plans to go ahead with veto; believes enough votes available to override President' veto. If House overrides veto, Senator to put veto in Fin. Committee and let it sit there.
REPORTER: Catherine Mackin

Brokaw, Tom;
Chancellor, John;
Mackin, Catherine

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