Masonry Magazine May 1973 Page. 37
Washington Wire
(Continued from page 29)
ticularly since it feels Labor Secretary Brennan sold out on this issue. The big controversy is over the minimum wage workers should receive. The White House proposes a separate and lower minimum for workers under 20. Labor has traditionally fought against reduced rates for younger workers and Brennan had opposed the idea at an earlier Senate confirmation hearing.
The youth-wage fight resulted in a deadlock on the measure last year. Some legislators see a similar stalemate in this session. A compromise probably can be reached between the White House and labor on an increase in the basic minimum.
The White House plan seeks an immediate boost to $1.90 an hour from $1.60-and then step-by-step increases until the minimum reaches $2.30 in 1976. Labor is pressing a hike to $2 one month after enactment. This measure, supported by many Democrats, calls for a $2.20 figure during 1974.
HIGHER OCEAN FREIGHT RATES ARE EXPECTED in the months ahead as a result of the huge movement of commodities in world trade. In fact, ocean rates have already gone up substantially, rising from 100% to 300% above the level of last July when news of the big Soviet Union grain buying first appeared. Many vessels have been booked on "time charters," under which a shipper can use the ship for three months, six months or even two years. This practice has reduced the number of foreign flag vessels available for single trips. Iron, steel and oil are moving in big volume, contributing to rising rates.
THE WHITE HOUSE HOPES TO UPDATE AN OLD LAW to boost exports sharply. Nixon wants to encourage the formation of export associations of U.S. firms, though the Justice Department has discouraged such associations in the past. Under the plan, competing companies would join to export to other countries. Legislation would grant immunity from prosecution under the antitrust laws. Architectural, engineering, training, financing and project-management firms would be clearly eligible for the new exemption from the antitrust statutes.
The Federal Trade Commission would get exclusive authority under the plan. The object is to allay business fears that it would be exposed to the Justice Department, especially if it were to shift its personnel and policies in the future.
ENGINEERING AND CONSTRUCTION FIRMS WOULD BENEFIT MOST from the changes. But the law would be helpful to firms bidding jointly on turnkey projects those that require the transfer of technical know-how as well as equipment. Association members could also carve up a foreign project among themselves.
Some lawyers contend that the current law allows such joint combines. However, many corporations remain very cautious.
INDUSTRY FACES HIGHER FUEL COSTS as a result of new White House plans. Nixon wants to end current price regulation on newly-discovered natural gas, an action the President concedes would increase the costs to all consumers. The President has already lifted all import tariffs on oil and petroleum. The duty-free imports will be phased in and replaced by stiff license fees. Here, again, the end result is likely to be higher prices for these fuels.
Officials say consumers must pay more to assure adequate future supplies. Even with these actions, they indicate that energy shortages may well develop in the near-term.
The energy crisis may require a "go slow" approach on clean air standards. The President cited the need for compromise between American energy requirements and health concerns.
PENSION REFORM LEGISLATION LIKELY WILL BE ENACTED by Congress in '73. The Senate Labor Committee has already voted a comprehensive pension bill. But the Senate Finance Committee plans hearings, probably during this month, because many provisions of the measure require changes in the tax statutes. Once the bill gets to the Senate floor, however, quick passage is expected. The outlook for pension-plan revisions is not nearly as clear in the House. A House Labor subcommittee doesn't plan to draft a pension bill until June. And the Ways and Means Committee is expected to set its own hearings later.
But Congressional insiders predict that a bill, in some form, will emerge. A vesting provision is certain to be included in the final measure, to give workers stronger assurance of pension benefits when they retire. A minimum funding rule is likely to be passed-to improve the solvency of plans.
Bigger incentives for persons to establish retirement plans may also be included in the bill. A tax deduction would be allowed on a certain amount set aside for retirement.
MAYCO C3OD
SMALL LINE CONCRETE PUMP
For more uses than any other
small line concrete pump!
* Masonry and high-lift grouting, lightweight cellular concrete floors.
* Wet-gunning.
* Slabs and foundations.
* Handles ½" minus aggregate.
* Pumps stiff mixes 400-500′ horizontally and 100' vertically.
Diversify with the C30D into a concrete pumping service.
For name of local MAYCO distributor contact:
MAYCO PUMP CORPORATION
4560 Sperry St., Los Angeles, Co. 90039/(213) 245-8821