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Show By: James W. Douthat WASHINGTON How are legislative programs affecting af-fecting business faring at the midpoint of this Congressional Congres-sional session? A quick appraisal shows that most measures important import-ant to business are still in committee that moderation has thus far prevailed thati i the final outcome is uncertain. LEGISLATIVE RECORD Status Sta-tus of business measures included: includ-ed: BUDGET BALANCING Bus-inessmen Bus-inessmen have provided active support for members of the Congressional Con-gressional "economy bloc," seeking seek-ing to cut appropriations and restrict re-strict future programs, to assure as-sure sound government finance. The economy fight will en-eompas en-eompas both the Senate and the House. A billion has been sliced from the budget thus far a cut of several billion is sought. TAXATION Congress continued contin-ued the 52 corporate income tax rate, (after rejecting proposals propos-als for a graduated corporation income tax) and a billion dollars dol-lars in war time excise taxes. It's now touch and go whether wheth-er the House will vote a tax cut, effective next January 1. But a tax reduction bill is considered con-sidered sure next year. INFLATION Proposals for stand-by price and wage controls con-trols Ignored. No action taken on grant of control over installment install-ment credit to Federal Reserve I Board. Senate Finance Commit-tee Commit-tee to conduct Investigation of general Government finance, money and credit. Increased Interest In-terest rate on savings bonds voted by Congress. Banks Auth-I orized to raise rates on savings' to provide funds for expanding economy. LABOR REGULATION No progress has been made in enactment en-actment of bills designed to restrict re-strict monopoly power of labor union bosses. Measures pending i Include Hiestand bill to put unions un-ions under antitrust law; Mc-Clellan-Smith bill to present right of states to restrict union picketing and violence; Curtis bill to tighten anti-secondary boycott provisions. At the same time. Congress has taken no action on union demand de-mand for repeal or emasculation of Taft-Hartley Act. Whether McClellan committee exposure of links between union bosses and hoodlums will lead merely to welfare and pension fund regulation or go to heart of ills of compulsory unionism is undetermined. ANTITRUST MEASURES Congress has taken before it the report of the Attorney General's committee for revision of the antitrust laws a report by experts with proposals for clarification long overdue. But Congress has Ignored It has not considered constructive proposals designed to aid business. busi-ness. Instead, Congress is considering con-sidering a measure designed to destroy the good-faith defense in price discrimination cases, and another bill to require premerger pre-merger notification and thus Increase In-crease bureaucratic control over business. Senator Kefauver (D.-Tenn.l. plans to resume investigation of "economic concentration" In the next several weeks. DEPRESSED AREAS In spite of the remarkable power of the private enterprise economy to meet stresses and strains, a strong New-Fair Deal movement is under way for enactment of a depressed area bill. This measure, starting with federal loans and grants of $325.-000.000, $325.-000.000, could grow ultimately to ;r!ouj federal intervention In location of factories and federal fed-eral suoport of factories in de-nressed de-nressed areas through forced dt-version dt-version of "jvornment procure-mnt. procure-mnt. rAtrarrfw pf nrico. ATOMIC ENERGY ConaT Is drafrim Its feet on legislation legisla-tion strongly urged bv business to sneed private enterprise gains in wtomle enrgv. Tb Joint CommiW on Atom-Fnrrgv Atom-Fnrrgv has ben asked hv 'tness to Drovlde ffwornmerit nHemnlrv against ntomir dUas. " . som"tMng tr bevond nr. "In"; rop"ts Hint no action t h""n taVn. clmPHv. fnr. narnt nrocitrn has been iti-To'l Roain with r" ctlm. M,n'm. New. Fair D"-t1 on to coronal 'vonditu-i of hundr"'' of millions to build government atomic rrwer plants. |