The gamecock. (Columbia, S.C.) 1908-2006, February 13, 1975, Page Page 4, Image 4
Derrick s
BY BILL PRAT
News Editor
A tax cut of $25 billion 'to $30
billion is expected to be used by
Congress to stimulate the U.S.
economy out of its current
recession, third district Rep.
Butler Derrick said Wednesday.
The tax cut, Derrick added,
would create an estimated $60
billion deficit.
Derrick's comments were made
at a breakfast meeting of Delta
Sigma Pi, a University business
fraternity.
Calling President Gerald Ford's
proposed $16 billion tax cut in
sufficient, Derrick said, "If we
must stimulate the economy in this
I think there is a a
many Congressmen the
will not do the job.'
manner, it (the cut) must be
enough to get the economy back on
its normal road."
"I think there is a sincere in
terest of many Congressmen that
$16 billion will not do the job,"
Derrick said.
"If you put $16 billion in the
economy," he said, "and it does
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not do what it is supposed to do the
money is wasted."
Thus, "the amount will be more
in the neighborhood of $30 billion,"
he said.
Citing the enormous amoung of
money rationing would cost both
the government and the consumer
he said, "I'm opposed to
rationing."
Right now, the consumer pays an
average of $46 a month for energy.
With rationing, Derrick said, the
consumer would pay as much as
$104 a month.
His figures are based on an
automobile which gets 12 miles per
gallon and travels 12,000 miles a
year.
"It's estimated that it would cost
incere interest of
it $16 billion
this country $1.8 billion a year to
administer the. program," he
added concerning his. stance
against rationing.
Asked if he would support
President Ford's proposal today,
since he did not support rationing,
Derrick said, "I would vote for
Ford." Ford's plan would put an
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additional $3 per barrel tax on
imported oil.
Eventually, he said, Congress
would pass a compromise between
the Ford and Jackson programs,
but he is unsure what form the new
proposal will take.
Derrick expects this uniform
energy bill to come from Congress
within 60 days.
Derrick said he does not favor
military intervention in order to
solve the energy problem, "I don't
see that (military action) as a
possibility. There are many other
peaceful alternatives."
Action by Congress, Derrick
added, would be taken in the next
30 to 45 days.
In other comments, Derrick
said:
He does not consider military
action a viable option in the Middle
East.
USC enrollment
USC has 29,378 students at
tending at least one class on its
nine campuses this semester.
This number compares with
29,410 enrolled last September. A
school spokesman pointed out that -
spring enrollment traditionally is
down from fall.
On the main campus in
Columbia, there are 19,891 students
this semester.
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