Masonry Magazine January 1968 Page. 24
Washington Wire
YOU'LL SEE A HOT FIGHT ON FOREIGN TRADE MEASURES-but little action. Johnson will ask for new power to cut tariffs and aid for affected workers. More important, he'll be pushing for repeal of the "American Selling Price" as the basis for valuing chemicals and some other items for tariff purposes. The U.S. promised this in persuading Europe to make concessions last year. (Since many U.S. prices are higher, tariffs are steeper under this system.)
But many Congressmen want to raise not lower barriers to imports. They are sponsoring bills for quotas on textiles, steel, meat, and many other items. Teamed up, their power is great. In the end, the chances for any action at all to ease or tighten are considered doubtful. But Congress may curb Export-Import Bank loans on sales to the Soviets.
ONE MEASURE-REPEAL OF THE GOLD COVER-IS CERTAIN TO PASS this year. It would abolish today's requirement that 25 worth of metal be earmarked for every paper dollar circulating. This ties up $10½ billion at Fort Knox, and leaves a bit less than $2 billion available to back up the dollar abroad. Congress knows that the rest of the gold must be freed to avoid devaluation.
LITTLE LANDMARK FARM LEGISLATION IS LIKELY TO EMERGE at this session, partly because current crop-control laws do not run out until late 1969 and partly because there is little desire to tinker during an election year. But you'll see a big push for more poultry inspection with U.S. standards, along lines of the last year's Wholesome Meat Act. Again, states would have a period to get their laws up to Federal level or face U.S. intervention. The victory on meat has shown the way. Johnson will be supporting action.
Other farm legislation that will get consideration next year will cover improving the bargaining power of the producer cooperatives, starting a system of national grain reserves and bringing futures trading under U.S. rules. Some bills appear likely to lose out in the rush to quit to campaign.
THIS WON'T BE A BIG YEAR FOR BANKING LEGISLATION, by all the signs. Some bills that came close to passage last year are likely to get through. The interest-rate disclosure bill-so-called truth-in-lending-will make it. It needs only final passage by the House and a conference with the Senate to go to the President. It would call on lenders to list rates they charge. Another bet for passage would let banks underwrite tax-exempt revenue bonds. But many measures to reform the banking system in whole or part will die.
THERE'LL BE A LOT OF COMMOTION IN THE LABOR AREA-but few new laws. Both unions and management will be out to make political records and to aid their friends in Congress. In other words, they'll be looking toward 1969. The unions will attempt once again to lift the Taft-Hartley Act restraints on construction picketing. But even the Democrats call this a hot potato. Management will center its fire on the U.S. National Labor Relations Board, charging it with a pro-labor bias. But there will be no action to curb it.
There will be talk of emergency strike legislation if a wave of walkouts hits. But Congress has shied away from this in the past, and will do so again, barring a crisis. The odds are deemed heavily against this sort of thing developing.
THE MOST INTENSE LEGISLATIVE SHOW MAY INVOLVE CIVIL RIGHTS in 1968. In fact, it could be the real curtain-raiser for this session-kicking off immediately after the President sends his key messages up to Capitol Hill. The trigger would be the call-up in the Senate of a House-passed measure to make it a Federal crime to harm or intimidate a person trying to exercise his civil rights. The issue has already threatened to launch a filibuster.
But most observers believe that the rights bill will be laid aside, once the jam of money bills begins to grow and to threaten the mid-summer target date for Congress' quitting.
Here's a rundown of other legislation Congress will face:
* Higher education: Extension of aid, stymied in '67, may pass.
* Transportation: Little is due on subsidies or regulation.
* Crime prevention: There is some hope for this Johnson pet.
* Highway beautification: This is due to feel the economy ax.
* Congressional ethics: Congress will do little on a new code.
* Election reform: The two parties won't agree on financing.
SPECULATING ON THE OUTCOME OF THE ELECTIONS is now a major activity in Washington. Political pros are already drawing tentative conclusions. They definitely don't count President Johnson out of the running as beaten. Support for the war is rebounding. So is his standing in the opinion polls. The incumbent has an edge. He can do something dramatic before the voting.
For the Senate: Democrats will suffer losses, if only because so many are up for reelection. But they will still control.
For the House: The Republicans could conceivably win control if the Party also takes the White House. If Johnson wins, though, the Democrats will continue in the driver's seat.
In the states: The recent trend toward Republican dominance in the state houses and the cities seems likely to continue, even if the Democrats do keep Congress and the Presidency.
masonry
January, 1968