The Battalion. (College Station, Tex.) 1893-current, April 17, 1980, Image 10

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    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
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Based on the True Story
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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
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PG
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2:25 4:45 7:10 9:35
J:50 5:10 7:30 »:«
5th Hit Week!
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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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UNIVERSITY SQUARE SHOPPING CENTER 846-6714 & 846-1151
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