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{
    "localId": "4525521",
    "label": "Ford Press Releases - Congress, 1965-1966",
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    "id": "4525521",
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    "contentType": "document",
    "title": "Ford Press Releases - Congress, 1965-1966",
    "citationUrl": "https://catalog.archives.gov/id/4525521",
    "collections": [
        "Gerald R. Ford Congressional Papers",
        "Press Releases Subject Files"
    ],
    "subjects": [
        "U.S. House of Representatives. (03/04/1789 - )",
        "House Republican Policy Committee (U.S.)",
        "U.S. Congress. (1789 - )",
        "Legislation"
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        "logicalDate": "1966-11-01",
        "month": 11,
        "year": 1966
    },
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        "logicalDate": "1965-05-01",
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{
    "seq": 63,
    "pageIndex": 0,
    "type": "photo",
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    "ocrText": "8.\nImproving Public Transportation\nIn supporting the establishment of a new Department of Transportation, the\nRepublican Members of the House of Representatives continued the historic policy of\nthe Republican Party of encouraging the development of American transportation.\nThe need for better coordination among the various governmental agencies that deal\nwith transportation has been apparent for many years. In his final budget message\nto Congress, President Eisenhower stated \"A Department of Transportation should be\nestablished so as to bring together at Cabinet level the presently fragmented\nfederal functions regarding transportation activities.\"\nThe Republican Members were concerned that in the Aúministration's rush to\ncreate a Department of Transportation certain safeguards and considerations might\nbe overlooked. They found that the bill that was originally proposed by the\nJohnson-Humphrey Administration would have granted the Secretary of Transportation\nbroad authority that invaded the policy-making authority of Congress. It would have\nscrambled the now-independent accident investigation functions of the CAB with the\nregulation and control of the airways. Also, the Maritime Administration would be\nburied deep within the bureaucracy of the new Department.\nDue to Republican efforts, the legislation creating the new Department has\ncorrected these defects in the original Administration bill. As a result, the\nDepartment of Transportation, as it has now been established, will be able to\nperform efficiently and effectively.\n(See August 10, 1966 Policy Committee statement.)\nAttacking Tight Money Problems\nAlthough the big company with a large net profit may have little trouble borrow-\ning money, the individual who wants to buy a car, obtain a college loan, or purchase\na home has a terrific problem due to the present inflationary situation. If he is\nlucky enough to find a lender, he may have to pay an extremely high rate of interest\nto obtain a loan. Long before the Johnson-Humphrey Administration was willing to\neven admit that a problem existed, the Republican Members of the House of Represen-\ntatives recognized that the average person was being hurt in the present tight money\nmarket and set out on a course of action that would afford this individual\nmeaningful relief.\nThey called for an immediate slash in non-defense, non-essential domestic spend-\ning - not just in regard to appropriations as the President urged, but also with\nrespect to new Great Society program authorizations that trigger the appropriations\nprocess. They sought a reduction in point discounts on FHA and VA home financing\nthrough an administrative adjustment of rates to a more realistic level. Republi-\ncans opposed the enactment of the Sales Participation Act scheme, noting that a\nprogram of this type could only mean additional government competition for the\nalready scarce investment dollar. (The Administration subsequently recognized its\nerror in enacting this proposal and suspended the sale of participations.)\nRepublican Members also called for the removal of FNMA's $15,000 administrative\nlimitation on purchases of mortgages under its secondary market operations. This,\ntoo, has been implemented by the Administration. Finally, in order to cool off\ncompetition for savings among the financial institutions, Republicans pressed for\nand obtained sound remedial legislation.\n(more)"
}