FURTHER RESISTANCE TO PROCUREMENT OFFICE

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP75B00380R000600130003-3
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 1
• Document Creation Date: November 17, 2016
• Document Release Date: July 13, 2000
• Sequence Number: 3
• Publication Date: November 16, 1973
• Content Type: OPEN

CONGRESSIONAL INDEX - (40)
November 16, 1973
Approved For Release 2000/08/27 : CIA-RDP75B00380R99Q %19R0QJ. .
Limo.- to $480 billion rather than the House-
p.issed Figure of $475.7 billion. Secretary
Shultz said than the Treasury could live with
the $475.7 billion limit for several months
but added that even if budget projections
were met and no extraordinary debt transac-
tions are necessary the Treasury would be
operating under strong debt limit pressure
by as early as March.
The Secretary also asked that the Com-
mittee remove the rate ceiling on Savings
Bonds, currently at 5.5 percent. He said
that due to interest rate pressures in the
economy and the changes in ceiling rates on
thrift and bank deposits in July, Savings
Bonds rates are now out of line with other
rates and as a result Savings Bonds sales
have declined and redemptions have risen.
WARRANTY AND FTC IMPROVEMENTS
ACT ADVANCES
The House Commerce and Finance Sub-
committee, after numerous mark up sessions
;stretching over a period of several months,
has reached agreement on the text of H.R. 7917
the Consumer Product Warranties and Federal
Trade Commission Improvements Act. The bill
as approved reflects the diligent efforts of
the subcommittee members to reach a compromise
on the highly controversial bill.,, It will
now be up to the full House Interstate and
Foreign Commerce Committee to approve the
idprd by the House.
bill before it can be co
Briefly H.R. 7917 would: duthorize the
FTC to issue rules requiring'consumer product
warranties to be clear and understandable;
require that warranties be designated either
full or limited depending on its meeting of
federal requirements; require that the
minimum guarantee on products sold under full
warranties be either repair or replacement
within a reasonable time; broaden the FTC's
jurisdiction over unfair and deceptive prac-
tices to matters in or "affecting" commerce;
and, clarify the FTC's rulemaking authority
and establish procedures for the issuance of
FTC rules preventing unfair and deceptive
practices.
FURTHER RESISTANCE TO
PROCUREMENT OFFICE
last
lish
Testifying before the Ad Hoc
Government Procurement Subcommittee of
the Senate Government Operations Committee,
Assistant Secretary of Defense Arthur
I. Mendolia repeated the Administration's
position that it is unnecessary to create
a new statutory agency "simply to provide
leadership" in procurement affairs. GSA
Administrator Arthur F. Sampson warned
against hastily-considered decisions,
and promised the Subcommittee he would
return with "specific recommendations"
on the OFPP and other procurement
issues in the spring.
In contrast, Comptroller General
Elmer B. Staats asserted the GAO's posi-
tion that beyond executive branch
"revitalization", a statutory OFPP "appears
essential to obtain adequate action".
Subcommittee Chairman Lawton Chiles said
he expected no final action on S. 2510
until the spring.
VOLCKER OPTIMISTIC ON INTERNATIONAL
MONETARY REFORM
Under Secretary of the Treasury for
Monetary Affairs Paul A. Volcker reported
to a joint meeting of subcommittees of
the House Banking Committee and the
Joint Economic Committee on the status
of international monetary reform. He
stated that the commitment made at the
recent Annual Meeting of the IMF in
Nairobi for completion of a basic agree-
ment on reform by the Committee of
Twenty by July 31, 1974 reflects the
sense of urgency, dedication and deter-
mination of the ministers to meet this
goal. He countered claims that the
negotiations are stalemated and said
that decisions by a number of nations
to permit their currencies to float will
not be recognized as a satisfactory sub-
stitute for organized reform.
The House Rules Committee ordered
reported H..R. 7130, the Budget Control
Act, which is designed to restore the
balance between the legislative and
executive branch's control over federal
spending. ... The House by a vote of
Defense Department and GSA spokesmen, 272 to 139 agreed to a motion to recommit
to testify on S. 2510, a bill to estab- H.R. 8877, the Labor-HEW appropriations
an g~oe~ed e~ St's 'Q~9~f : CIA RDP 6BOO38CROOO60013 03 e
(OFPP), agreed with earlier executive branc Education and Labor Committee approved
witnesses that action on the measure should H.R. 11010, the comprehensive Manpower