The Battalion. (College Station, Tex.) 1893-current, April 17, 1980, Image 10
Page 10 Price controls may fit wages^ United Press International WASHINGTON — A presidential advisory committee Wednesday re commended the administration relax its voluntary anti-inflation guidelines for prices to fit recently increased wage guidelines. If approved by Carter, the new guidelines would allow companies to raise prices at an annual rate of 7.5 percent during the six-month period from April through September, in stead of the currently allowed 6.75 percent. The recommendation was made by a six-member Price Advisory Committee appointed by President Carter in December. R. Robert Russell, chairman of the Council on Wage and Price Stability> which administers the voluntary guidelines, said the administration would study the proposal and reach a decision as rapidly as possible. Albert T. Sommers, chair man of the advisory panel and chief economist of a New York-based eco nomic research organization, said re laxing the price guideline would make it more realistic and encourage compliance. what larger price increases under the voluntary program would bring that part of the program closer in line with the new wage guidelines. In a February report, the advisory panel said credibility of the price guidelines program had been so se riously impaired as to “invite terioration of the voluntary pliance on which it rests. ’ The higher price guidelines^ apply to the second half of the ram’s second year— which April 1. “Who Who has mall othe Wie Via * Manor East 3 * JMANOR EAST MALL 823-8300 J * * "i See him before he sees you. M C QUEEN TOM HORN Based on the True Story o The administration already has adopted liberalized wage guidelines — calling for pay increases in a range of 7.5 to 9.5 percent this year — which were proposed by a wage advisory committee. Sommers said allowing some- Carter order to allow rise holocaust of $20 per barrel in oilpnct|;i satisfactory windfall bill reachjjflf 265 .!! 1 desk. of 6 milh< At that time, 80 percentofal! ^ • 1 " ginal oil, or 450,000 barrels a|f| ews ^ had already been decontroDdl^y 61 ?. 1 / almost seven months. TheremaifflP’ 1 ' 100,000 barrels a day was towl; controlled on this past Jan. 1, W Chapter » Two ^ kittle ‘^Darlings PG - — . 2:25 4:45 7:10 9:35 J:50 5:10 7:30 »:« 5th Hit Week! MAL MIRER’S •AifiMTER 7:00 9:30 ****♦¥*********¥*****¥¥¥¥¥¥¥¥¥* \MSC AGGIE CINEMA {••••••••••••••I FRIDAY-SATURDAY MIDNIGHT J J MANOR EAST III J : THE FOG 1 No one has ever escaped from Alcatraz ...and no one ever will.' ONE NIGHT ONLY! FRIDAY APRIL 18 7:30 & 9:45 P.M. RUDDER AUDITORIUM PARAMOUNT PICTURES Presents A MALPASO Company/SIEGEL Film Co-Starring PATRICK McGOOHAN • Executive Producer ROBERT DALEY Screenplay by RICHARD TUGGLE • Based on the Book by J CAMPBELL BRUCE $1.25 with TAMU I.D. 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D Rocky 7:15 Rocky II United Press International WASHINGTON — President Carter Wednesday signed an execu tive order lifting controls from the remaining 20 percent of oil from marginal wells — a move that will allow prices to rise by at least $20 a barrel. The Carter order is retroactive to April 1, the day before he signed the windfall tax bill covering decontrol led domestic oil profits. Last Dec. 22. Carter announced he would postpone further decontrol of oil from marginal wells until a A huge amount of revenue volved in the Carter deeisioe^o has cause uncontrolled marginal ofro/n a// selling for only $6.30 a barreliFranlf, ‘ month while the average crude oil price is $29.50. 5? 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