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Economy / Food Prices / Administration Budget / Cong. Tax Action / New York City Loans #54858

ABC Evening News for Tuesday, Jul 25, 1978
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(Studio) Government report that food price increases should begin to slow noted.
REPORTER: Frank Reynolds

(DC) Rise in food costs since January contrasted with rises in other consumer prices. Congress hearing on problem detailed; Agriculture Department estimate of food costs for year given. [Wage and Price Council spokesperson Barry BOSWORTH - says continuation of food price increases won't help farmer or anyone else; states reasons.] Testimony of administration and industry officials that prices have plateaued noted.
REPORTER: Stephanie Levinson

(Studio) Request for Congress budget cut from Budget Director James McIntyre reported House Ways and Means Committee action on income tax credit to help pay higher Social Security taxes and on plan to reduce capital gains taxes detailed. House vote to guarantee loans to New York City and expected Senator approval noted.
REPORTER: Frank Reynolds

Levinson, Stephanie;
Reynolds, Frank

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