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CONGRES
REPORTS
Bf Rep. Burr P. Harriton
WASHINGTON—Last week, we reviewed actions of this session - of Congress concerning national defense and international .affairs Turning to domestic matters, we find the following among significant measures involving the national Economy. > (As with last week’s group, i some of the bills still may be in SenateiHouse conference to adjust' ’ differences in two versions by the 1 time this reaches print, or . awaiting action of the President. Because of space limitations, the bills are listed without comment, and inclusion does not necessarily , indicate my Support of a particular ''measure.) » y
1. Two raises in the national debt limit—the first, a temporary increase, from $2/5 to $280 billion, expiring June 30, 1959; the second; superseding the first, a ' permanent increase to $285 billion, combined with a temporary boost to $288 billion, expiring June 30,
I960, j , ' •
2. Extension, to July 1, 1959, of the 52 pier cent corporate income tax rate and existing excise taxes on alcoholic beyerages. cigarettes, automobiles and ,their parts, combined with repeal of the 3 per cent tax on freight. / , 3. A $547 millioh-per-year increase in postal rates. ” 4. A 10 pfr cent increase in the pay of postal and other federal employees, and in the benefits of retire^ employees.
5. ? A program of financial as- 'i distance to railroads, including authorization of uh to $700 million in federally-guaranteed loans.
6. Perroai|tnt status for Small Administration; limited tax adjustments for small business; provision for establishment of *, federallyguarantied small business investment companies.
7. .Fifteen Weeks of additional federal unemployment compensation for jobless who have exhausted state benefits, but provided only1' "if-state requests additional funds. 10. Authorization for stiidy ofproblems of domestic textile industry. ' 11. Authorization for construction and sale by Federal Government of two passenger superlinen,
58.8%