Evening star., 1951-07-21
Analysis of 2 Controls Bills
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not to interfere with the 10 pei
cent beef rollback already in ef.
feet. The Senate also voted linn
tied authority to roll back prices
of non-farm goods below the Jan.
uary Is level If the new ceiling
reflects fiuctuating factory ane
labor costs and reasonable allow
ances" for other recent produc.
ton cost increases"
The House voted to: Let the II
per cent beef rollback and any
other rollbacks already in effect
stand and to permit future roll
backs on prices Of meat and other
farm commodities providing the
new ceiling Is not less than parity
or 30 per cent Of the May 10. 1851
price.
WAGES.
Present law: Generally prohibits
wages from being frozen at less
than they were in the May "a
June Is, 1850, period. The Janu-
AIRY price freeze also halted, with
some exceptions. wage increases.
The President requested: Sub
stantially the same powers he
now has.
The Senate and the House voted
to: Keep the present wage sta
bilization program.
EXEMPTIONS.
Present law: EXempts from
wage and price provisions pub
lications. radio. television. movies
real estate dealers. professional
people and most common carriers
and public utilities.
The President requested: Nc
change in these exemptions ex-
cept a Tightening of the present
provision exempting common car
riers and utilities.
The Senate voted to: Keep the
law the way 1t is.
The House voted to: Grant the
Presidents request and add ex-
emptions for BARRIERS and beau
ticians, salaried professional peo-
pie and railway employees (inso-
far as wages are concerned who
are subject to the Railway Labor
Act.
BEEF SLAUGHTERING
QUOTAS.
Present law: Permits them.
The President requested: Keep
ing them in effect.
The Senate and the House
Banned them.
IMPORT CONTROLS.
Present law: A special law ex-
piring July 81 provides for con-
trolls on imports of fats and oils.
The President: Made no recon-
mendation on this point in con-
nection with the controls bill, but
administration forces wanted con-
trolls continued.
The Senate and House voted to:
Tighten the existing controls, keep
them in effect until June 80, 1858,
and control dairy products i'm
ports.
CONSUMER CREDIT CURBS.
Present law: Consumer credit is
controlled by the Federal Reserve
Bank through Regulation w, gen.
orally limiting installment terms.
1t requires one-third down and Is
months for payments on all autos.
The President requested: Con-
tinuation Of this authority.
The Senate voted to: Continue
the authority but liberalize credit
terms on new and used automo-
biles, permitting 18 months to re-
pay balances and requiring not
more than one third down.
The House voted to: Liberalize
credit terms on purchases of
autos, household appliances, fur
niture, radios and televisions and
home repair loans. It decided to
require one-third down and 81
months to pay on new cars and
one-fourth down ana 81 months
to pay on used cars.
REAL ESTATE CREDIT.
Present law: Restricts credit on
purchases of new homes and or
housing financed by the Govern
ment. <,
The President requested: Ex-
tend the restrictions to all real
estate. both new and old.
The Senate and House voted to:
Keep the law as it is, with an ad-
ditional requirement for a maxi
mum down payment of { per cent
on homes costing less than
$4,000 and bought by veterans
The House directe that on non-
veteran homes costing $4,000 OF
less, a 10 per cent down payment
is sufficient.
RENT CONTROLS.
Present law: Provides for con.
tinuance Of Federal rent controls
IN areas desiring it or not endine
it by local action.
The President requested: Ex-
tending controls to CT .nmercial
rentals not now covered, with
broad recontrol powers and nc
rent increases. s
The Senate and the House
voted to: Prohibit Federal con-
troll on commercial rentals and
permit 20 per cent rent increases
over June 80, 1947. Some recon-
troll provisions were approved.
PRIORITIES AND
ALLEGATIONS.
The present law: Gives the