Masonry Magazine March 1971 Page. 28
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Washington Wire
(Continued from page 27)
He has suspended the law requiring prevailing wages on building projects. He also successfully rolled back a big price increase in the steel industry. Import restrictions on oil were relaxed in order to restrain price increases. And officials have hinted he might intervene in the steel labor negotiations to head off a possible strike later this year that could damage the economy.
But the experts say this is not enough. They think the President may next be forced to set up a Wage-Price Review Board, as suggested by "Fed" Chairman Burns. The Board would initiate inquiries into specific wage-price actions. Nixon might act on its recommendations. In time, it would evolve wage and price guidelines for business and labor.
JANUARY 8-12, 1972
MCAA
CONVENTION & SHOW
at the Americana
Bal Harbour, Fla.
THE PRESIDENT'S THREE BIG PROGRAMS FACE UNCERTAIN TIMES in Congress. Democrats are opposing some as unsatisfactory and also on political grounds. And certain conservative Republicans are doubtful for philosophical reasons. The combination means delays, perhaps drastic amendments, and even defeat.
Revenue-sharing faces enormous opposition from legislators in both parties. Many object to giving money to localities when Washington can't control its spending. Federal takeover of all welfare costs is being pushed as a substitute.
The Family Assistance Plan is also in trouble, especially in the Senate. Its eligibility requirements and costs are under fire. Any final bill would be drastically modified.
Reorganization of the Executive Branch is not likely to get anywhere at all. Unions are opposed to the Commerce-Labor merger. Farmers do not want to see Agriculture split up.
THE SURGE IN HOME-BUILDING IS NOW SLOWING somewhat-but it isn't over yet by any means. To be sure, the 2 million-a-year plus rate of December could not be sustained-and the pace slipped back in January. But some experts are nevertheless lifting their sights for 1971 as a whole-from the 1,700,000 total of a few months ago, to 1,800,000 or more. Money is still pouring into the savings institutions and falling mortgage rates are easing terms for buyers.
THE INVESTMENT TAX CREDIT MAY BE RESURRECTED by Congress later in 1971. House Ways and Means Committee Chairman Wilbur Mills (D., Ark.) is (Continued on page 42). masonry March, 1971