HOUSING AND URBAN DEVELOPMENT APPROPRIATIONS, 1975- CONFERENCE REPORT

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP75B00380R000700040023-0
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 28
• Document Creation Date: December 16, 2016
• Document Release Date: May 19, 2005
• Sequence Number: 23
• Publication Date: August 22, 1974
• Content Type: OPEN

l.c..(_ & ,'/A 7oz
Approved For ~gg@Q /Qi :Jy1 71 0070004002k" 1/ust 22, 1974
other provision of th
the expenses of the
stances Act is amende
thereof the following
any Individual convic
laws repealed by this
out regard to the term
posed on such individ
to extend for three fisca
tions of appropriations
with the House on the
of the two Houses and
authorized to appoint
the part of the Senate.
Mr. EASTLAND, Mr.
ERVIN, Mr. HRUSKA, an
FEATHERS AND
agreeing votes of the two
on, and that the Chai
conferees.
The PRESIDING OFFI
objection, it is so ordered.
i
$22
ng
or title III with- amount
any sentence im- ences are a matter of give and take, but the conferees admonish the Secretary o
t that in this con- Housing and Urban Development to
"
I am pleased to repor
under such law.
so as to read: "An ference the Senate took more and gave exercise adequate budgetary and ac-
-s--A. +n hp imnnap 1 by
led Substances Act
ears the au.thoriza-
st a conference
isagreeing votes
ted Mr. BAYI,
CCLELLAN, Mr.
O CRUDE
OWNS
on the dis-
ouses there-
appoint the
and Mr. CURTIS conferees on
the Senate.
inc ''aIIleiiuinellt t- au.r., --
ferees the most difficulty was Senate nizations to insure that the funds will be
amendment No. 2, which originally was used in a constructive manner.
proposed JAVITS on tflthe Aeronautics and Spa ce of the
when this bill was considered for the National Admin-
first time by the Senate on August 5. istration, the conferees adopted the
In order to get agreement, it was neces- amounts recommended by the Senate
sary to modify this amendment and we and agreed that not more than $3,000,000
wound up with a somewhat weaker ver- may be used for further planning and
sion than was proposed in the Senate studies on the large space telescope. The
bill. Nonetheless, I hope the language committee of conference also agreed that
is clear to the Secretary of the Depart- the SEASAT program may proceed with-
ment of Housing and Urban Develop- in the funds made available in the act.
meat, that he should proceed to keep In the House version of the bill, con-
the section 236 program alive-that is, struction money for the Systems De-
the program providing for rental assist- velopment Laboratory totaling $4,880,-
ance for modest income people-and 000 was denied, but it was included in the
obligate the unused contract authority Senate version of the bill. The Senate
previously made available in appropria- position prevailed in the conference.
tion acts by Congress for this program. Funds were also included for the Orbiter
.a t
t F-4 14+_ in the
_ .
flig
es
-
the Javits amendment in the bill, it is
the intent of the committee of confer-
ence that the Department utilize avail-
able resources to fill the need for low-
this time.
Mr. JAVITS. Mr. President, will the
Senator yield?
Mr. PROXMIRE. I yield.
Mr. JAVITS. Mr. President, first, I
should like to thank the conferees for
their efforts in this regard. The amend-
ment is tremendously useful in the cities
I
ajor problems
d th
fi
.
e m
n
where we
HOUSING AND URBAN DEVELOP- have learned from my talk with Secre-
MENT APPROPRIATIONS, 1975- ftary orward and that the that provision
CONFERENCE REPORT
Mr. PROXMIRE. Mr. President, I sub- exactly as - the conferees worked it out.
Mr. PROXMIRE. I thank the distin-
mit enc e on H.R. report . 15572, and a the 15572, and committee ske o for r its its im- guished Senator from New York. Once
mediate consideration. - again, I congratulate him on having
mediatte PRESNooffered this amendment. It is a real con
The PRESIDING OFFICER (Mr. tribution to providing housing which is
The HELMS) .The legislative report clerk will rk be read as stated s by follows: title. so urgently needed for low-income
d people.
The committee of conference on the die- people. President, amendment No. 4 was
agreeing votes of the two Houses on the Mr. amendments of the Senate to the bill (H.R. another one that gave the conferees some
15572) making appropriations for the De- difficulty. This amendment was initially
partment of Housing and Urban Develop- offered by Senator BROOKE at the sub-
ment; for space, science, veterans, and cer- committee markup and provided for an
tain other independent executive agencies, earmarking of not less than $500 million
boards, commissions, corporations, and offices for the payment of operating subsidies
for for the other r p pl year urposes, having snJune met, SO, , 1 after er full and to local housing authorities. The budget
and free conference, have agreed to recom- estimate for these payments was $430
mend and do recommend to their respective million. After much discussion, the con-
Houses this report, signed by all the con- ferees agreed on the earmarking of $450
ferees. million for this purpose. So we got 90
The PRESIDING OFFICER. Is there percent of what Senator BROOKE re-
objection to the consideration of the con- quested of the committee and which
ference'report? passed the Senate.
There being no objection, the Senate In connection with this amendment,
proceeded to consider the report. the committee- of conference agreed to
t is printed In the language contained in the Senate re-
Act may be used for (The conference repor
partment of Justice the House proceedings of the CONGRES- port, which stated that the Housing Act
horized to be appro- SIONAL RECORD of August 21, 1974, at pp. of 1937, as amended by the Congress in
f limited op-
t
"
o
a) of this section.
, H8836-H8839.) 1970, permits the paymen
the Controlled Sub- Mr. PROXMIRE. Mr. President, the erating funds by housing authorities to
879) is amended by
conference report contains new support public housing tenant orgamza-
di
ng
subsection (b). pen
the Controlled Sub- budget--obligational-authority -of $241,- Lions,+and }he cPommittt Ge of conference
--
-
subsection (a) - ate
103, section 4202 of the estimates and only $5,093,580 less tenants and management in public
amount oI .pi, r?u,uuu, utotcau v. ?..., y,,.,
940,000 contained in the Senate bill. The
House, in its version of the bill, had
denied any funds for this item.
Mr. President, for the National Science
Foundation, the committee of conference
recommends an appropriation of $661,-
500,000, which is $19,900,000 below the
budget estimate. Nonetheless, this al-
lowance is more than 20 percent above
the sum that was made available to the
Foundation in the previous fiscal year.
For the Veterans' Administration, the
amounts contained in the Senate bill for
the most part were retained by the com-
mittee of conference, with the excep-
tion of the item "General Operating Ex-
penses," where the Senate amount of
$428,842,000 was reduced to $420,000,000,
or a reduction of $8,842,000. The Senate
had previously reduced the budget esti-
mate for this item by $5,570,000. The
committee of conference did not take
issue with the language contained on
page 34 of the Senate report, wherein the
committee expressed its strong views op-
posing any personal freezes or other per-
sonnel limitations being placed on med-
ical care and hospital employment with-
in the Veterans' Administration, even
though there may be a Government-wide
policy to do so.
Mr. President, the committee of con-
ference also denied any funds for the line
item, assistance for health manpower
training institutions. The House had
recommended $30,000,000 for this item,
and the Senate made- a zero appropria-
tion. However, in not allowing any funds
in this fiscal year, the Senate committee
pointed out in its report that it will be
closely following the application process
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in connection with new first year grants
under subchapters II, III, and IV of
Public Law 92-541, and it would give con-
sideration to provide funds in a supple-
mental appropriation act if the need can
be justified by those applications.
The committee of conference also ap-
proved the full $24,400,000 requested by
the Veterans' Administration for funding
the new veterans' representation-on-
campus program, that has been designed
to insure the fast delivery of checks to
veterans who are taking advantage of
educational benefits afforded them under
existing legislation.
Finally, Mr. President, the committee
of conference agreed to the Senate lan-
guage included in the bill, which grants
to the Federal Home Loan Bank Board
authority to assess charges and to re-
ceive advances from other agencies and
to expand the dollar limitation for its
proposed new headquarters building.
Mr. President, I firmly believe the Sen=
ate conferees have returned to the Sen-
ate a bill which clearly expresses the
views voiced by the Senate when this bill
was debated on two different occasions-
namely, on August 5, when it was recom-
mitted to the Committee on Appropria-
tions, and again on August 16, when it
was considered a second time by the Sen-
ate. It gives full recognition to the needs
that must be met, but It also has taken
into consideration the limited resources
we have available to meet these needs in
these inflationary times.
The total reduction from the budget
estimate is $221,001,000, which amounts
to a little more than I percent of the total
budget estimate of almost $21.5 billion.
But while the total reduction is a little
more than 1 percent, it could have been
much more, except that almost two-
thirds of the budget estimates contained
in the bill are for the so-called uncon-
trollable items, such as compensation
and pensions for veterans, readjustment
benefits and medical care for veterans
and their dependents. In my opinion, it is
a bill that carries out the desire of our
President to reduce Federal spending and
it is a bill, I feel confident, he will be
able to sign with pleasure. Therefore,
Mr. President, I urge that the conference
report be adopted.
Mr. YOUNG. Mr. President, will the
Senator yield?
Mr. PROXMIRE. I yield.
Mr. YOUNG. Mr. President, I support
the conference report on appropriations
for HUD, Space, Science, Veterans. As
Is well known, this bill when first brought
to the floor was sent back to the commit-
tee for reconsideration after attempts
had been made at across-the-board cuts
in the bill. I am very pleased that on the
one hand, across-the-board cuts_were not
effected on the floor of the Senate and
that on the other hand cuts indeed were
made of over $85 million total by the
Committee on Appropriations. I think
that the principle is important that the
determination of what amounts and
what programs should be in an appro-
priations bill should initially be madd by
the Committee on Appropriations on the
basis of the lengthy hearings and exten-
sive consideration that is given within
the committee to these matters. That is
not to say that an appropriations bill
cannot be properly cut on the floor of
the Senate but it fs to say that an
across-the-board approach is probably
the very poorest way to arrive at final
figures In an appropriations bill.
Mr. President, it may be that in some
cases we have cut too deeply In this bill;
only time will tell. But, in general, I sup-
port the action of the committee in
bringing this bill out at $221 million be-
low the budget estimates that were con-
sidered by the Senate Committee on
Appropriations.
Mr. GRIFFIN. Mr. President, the Sen-
ator from Maryland (Mr. MATHIAS) is at
the White House with President Ford.
In order that we not hold up the con-
sideration of the conference report, I
have agreed to make certain Inquiries of
the Senator from Wisconsin on his
behalf.
There was certain language In the
Senate report accompanying the Senate
HUD, Space, Science, Veterans appro-
priations bill for fiscal year 1975 which
he understood should be discussed at this
time, while the Senate is considering the
conference report on this bill so that the
legislative record would be clear. I am
going to read certain passages from the
Senate Report, on behalf of Senator
MATHIAS, concerning certain programs of
the National Science Foundation on
which the conference report is silent. I
am doing this to avoid any confusion as
to the intent of Congress and to verify
with Senator PROXMIRE, the chairman
of the Appropriations Subcommittee,
that the language of the Senate report
does indeed apply to this bill as finally
enacted and sent to the President. I will
read the passages:
In arriving at this figure, the Committee
Included only $1 million each for the
National R&D Incentive program and for the
Intergovernmental Science and Research
Utilization program, which are the same as
the budget estimates.
The Foundation requested $8 million for
Earthquake Engineering Research in FY 75.
While the Committee recognizes the impor-
tance of research in this field, it believes
that $8 million is more money than can be
justified within the tight constraints of the
RANN program, and directs the Foundation
to reprogram some of - these funds to other
areas within RANN.
The Committee has not provided funding
for Institutional Grants for Research Man-
agement Improvement. These funds have
been provided in the past to institutions that
receive considerable Federal support for re-
search; these institutions should be able to
improve their management of research
grants using overhead funds.
These recited sentences, Senator
MATHIAS believes, are quite clear, and he
would like to ask Chairman PROXMIRE to
reply as to their applicability to the bill
as it is now emerged from the conference
with the House.
Mr. PROXMTE. I am delighted to
agree that these sentences do apply.
They apply to the bill as it emerged, and
to the conference report. I have full con-
fidence in their applicability.
Mr. GRIFFIN. I thank the Sena-
tor from Wisconsin. Further, Senator
MATHIAS believes it is generally under-
stood that on matters addressed in one
or the other of the House or Senate re-
ports but not in both, that Government
agencies generally should abide by such
language if the conference report is silent
on that particular subject. He believes
that the later of the two reports and,
of course, in the case of appropriations
bills, this would always be the Senate
report, generally supersedes the language
accompanying an early report from the
other House and, therefore, applies to a
final act if the conference report is silent
on the subject. A case in point should
be the following language in the Senate
report accompanying this bill:
The Committee recommendation includes
$5 million for Science Information Activities,
which is the budget estimate. The additional
$3 million provided by the House is unneces-
sary in view of the fact that costly auto-
mation of major abstracting and indexing
services had been completed so that an em-
phasis can now be placed on reducing gaps
and duplication in information systems and
the efficient exchange of information among
the systems.
Senator MATHIAS would appreciate
very much having any comment that the
chairman of the subcommittee (Senator
PROXMIRE) would care to make on these
observations.
Mr. PROXMIRE. I agree wholeheart-
edly.
Mr. GRIFFIN. I thank the Senator
from Wisconsin on behalf of the Senator
from Maryland.
Mr. PROXMIRE. Mr. President, be-
cause this conference report was recently
adopted by the House of Representatives,
and because the chairman of the House
conferees had included in the RECORD
a tabulation which sets out completely
the action of the conference, I ask unani-
mous consent that the complete tabula-
tion of the House of Representatives be
incorporated In the RECORD by reference.
The PRESIDING OFFICER Without
objection, it is so ordered.
(For joint explanatory statement of
the committee of conference, see House
of Representatives proceedings of August
21, 1974, pp. H8837-H8839.)
The PRESIDING OFFICER. The
question is on agreeing to the conference
report.
The report was agreed to.
The PRESIDING OFFICER. The clerk
will state the amendments in disagree-
ment.
The second assistant legislative clerk
read as follows:
Resolved, That the House recede from Its
disagreement to the amendment of the Sen-
ate numbered 2 to the aforesaid bill, and
concur therein with an amendment as fol-
lows:
In lieu of the matter proposed by said
amendment, insert ": Provided, That none of
these administrative funds may be used for
the administration of the section 23 leasing
program, or any replacement program, un-
less the available, unused balance of con-
tract authority under the section 236 pro-
gram, or any replacement program, is made
available for commitment concurrent with
the making available for commitment of any
contract authority under the section 23 pro-
gram, or any replacement program."
Resolved, That the House recede from its
disagreement to the amendment of the Sen-
ate numbered 4 to the aforesaid bill, and
concur therein with an amendment as fol-
lows:
In lieu of the matter proposed by said
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 Approved For R ed gp& tQJLLQ% 070004002,W,gust 1-92, 19` .
' r.I dmetrc, insert ", of which not less than
?:a 000,000 shall be used only for the pay-
cnertt of operating subsidies to local housing
,r,tncrities".
esotved, That the House recede from its
0J r::;cement to the amendment of the Sen-
nutnhered 28 to the aforesaid bill, and
,x.iic:ur therein with an amendment as foi-
out "one-half" in the second line
i,f amendment, and insert "one-quarter".
,,solved, That the House recede from its
al isz grccment to the amendment of the Sen-
un, numbered 32 to the aforesaid bill, and
concur therein with an amendment as Tol-
l,;.,
~teu of the matter proposed by said
eodraent, insert ", to remain available
m,03 June 30, 1976".
'I . PROXMIRE. Mr. President, I move
that the Senate concur in the amend-
ments of the House of Representatives
to the amendments of the Senate num-
bered 2, 4, 28, and 32.
The motion was agreed to.
TiI ) E ON H.R. 16425, TO PROVIDE
l=;CONOY AND FOR OTHER PUR-
i-'ONED
on H.R. 16425, an act to vide for the
-monitoring of the economy a for other
LlELis). Without objection, it
ordered.
EEMOVAL OF INJUNCTION OF SE-
('IlECY FROM THE TREATY ON
P.."TRADITION BETWEEN THE
UNITED STATES AND AUSTRALIA
(EXECUTIVE F, 93D CONG., 2D
ESS. )
Mr. ROBERT C. BYRD. Mr. President,
al s in executive session, I ask unanimous
consent that the injunction of secrecy be
removed from the Treaty on Extradition
between the United States of America
and Australia. signed at Washington on
May 14, 1974 (Executive F, 93d Cong.,
2d sess.), transmitted to the Senate
today by the President of the United
States, and that the treaty with accom-
message be printed in the RECORD,
"Cae PRESIDING OFFICER
America and Australia,
ington. on May 14, 1974
The Treaty will,
terminate, as betw
fication, I
and Australia, the Treaty on Extradition
between the United :states and Great
Britain of December '12, 1931, as made
applicable to Australia. This new Treaty
represents a substantial modernization
with respect to the procedural aspects of
extradition.
The Treaty includes in the list of
extraditable offenses several which are
of prime international concern, such as
aircraft hijacking, narcotics offenses, and
conspiracy to commit listed offenses.
The Treaty will make a significant
contribution to the international effort
to control narcotics traffic. I recommend
that the Senate give early and favorable
consideration to the Treaty and give its
advice and consent to ratification.
GERALD R. FosD.
TnE Wnr E HousS, August 22, 1974.
REDUCING SWOLGEN FEDERAL
SPENDING WILL NOT INCREASE
UNEMPLOYMENT
Mr. PROXMIRE. Mr. President, o:ae
that if we cut the maraouth incre t in
Federal spending, then auto tally
and without question inemploy t will
This myth-and it is just , a myth;
it is not true-has probably en as re-
sponsible as anything els 10
r the sky-
rocketing growth of gover ent over the
past few years. The ide as been that
every time the Fed Government
spends another 10 or housand dollars
apparent to no who can add. In
t ast 5 years e Federal budget has
exp d from 4 billion to more than
$305 on. at colossal increase in
spendin have resulted in a cor-
respondin ansion in jobs and a re-
duction ployrr.ent. Did it?
It is t he rk force increased and
employ t in economy grew. But
far lies an it sh 1 have. Unemploy-
ment w much mor proportion than
jobs d, Indeed after reak-neck ex-
pa n of Government s ding we find
u ployment which was percent 5
result of the slower rate of growth in
Federal spending.
Here is why: This year the Govern-
ment will run a $10 billion deficit. It will
borrow $10 billion and in doing so put
more pressure on hig::1 interest rates to
stay high or go higher.
If we cut spending by $10 billion and
balance the budget, the Federal Govern-
ment will not borrow that additional
sum, and interest rates will begin to move
down.
Will that provide more jobs? Yes in-
deed. How?
Because the housing market that is
now is a serious depression because high
interest rates make it almost impossible
for millions of American to buy homes
will fall. This could make a difference of
as many as 500,000 more housing t.) is
this year. That number of housing starts
means 1 million additional irest jibs
and probably 2 million in dir jobs.. -
Of course the cut in Fed al sp ndin?;
might reduce Federal en ymart b-,? a
part of that up to 3 n jobs, but it
is likely that the not loyment efIIJCI
would be positive. In ition, of ,,oouse.
employment would transferred from
the Government br where prodtic?-
tivity and diseipl' is so much less to the
private sector re all the press'lre of
a market ecor y, file profit moti'e, sncl
competition rease efficiency,
Mr. Pre ' at in a recent article in. U S.
News & rld Resort, former Chair-
man, o e Council of Economic Advis-
ers, P McCracken-the distinguished
eco is expert from Michigan responds
to cries of questions on this issue as
ws:
the Federal Reserve to avoid Inflationary
monetary policy. Heavy responsibility has to
be carried by the intellectuals and a,-
ono-mists here. The modern reactionary is tl j
fellow who is stlu advocating-or at least is
relaxed about--a deficit in the budge-I under
circumstances where that kind of prescrip-
tion no longer applies. He is in about the
same position as the orthodox fellow 'hack 44)
years ago who, in the Great Depression., was
still advocating a tax increase to balance she
budget.
Q. Are you satisfied with the amount; of
fiscal and monetary restraint we now have?
A. Monetary policy is about right, :3s I in-
terpret what the Federal Reserve is up ter.
Fiscal policy is in danger of being still too
stimulating. While the budget calls for, out-
lays of about 305 billion in the year that
began July 1, when you look underneath tlhe
surface you And that they could turn Out to
he in the range of 810 billion to 315 billion-
That would be a rise of about 45 billion from
the previous fiscal year, and that is far too
much.
At this point, let me interpola,e that
although the Senate has reduced appro-
priations, including the two apir"opria,-
tions measures that we passed in just the
last few minutes, tile fact is that actual
outlays will be reduced by only $4 bil-
lion, and because of increased inflation,
because of increases in the national debt,
because of the expenditure of mandated
funds impounded last year which must
now be spent under court orders, be-
cause of the veterans benefits that have
been increased, and for many other rea-
go back to the interview with lMir.
M cken:
Q. you agree with the plan President
Nixon out to reduce spending to 300
billion d s?
A. Yes, it will take absolutely Draco-
nian efforts et this year's outlays down
to 300. The fl objective here has to be
to see that they t turn out to be 110 to
315 billion.
Q. Will Draconi udget-cuttinc make
a severe recession more sly?
A. No. Even Draconia orts will not pro-
duce that large a reduction. Moreover, the
reductions in federal outlays will show up
as pluses in some other part of the economy.
If we can relieve pressure on the capital
markets, housing is going to respond rather
fast.
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 II 8831
V
Frey
Fulton
Fuqua
Gaydos
Gettys
Giaimo
Gibbons
Gilman
Goldwater
Gonzalez
Doodling
Grasso
Gray
Green, Pa.
Grover
Gubser
Dude
Guyer
Hamilton
Hanley
Hanna
Hansen, Idaho
Harrington
Hastings
Flays
Heckler, Mass.
Heinz
Heistoski
Henderson
Hicks
Hillis
Hinshaw
Holt
Horton
Hosmer
Hudnut Passman
Hutchinson Patman
Johnson, Calif. Patten
Johnson, Colo. Pepper
Johnson, Pa. Perkins
Jones, N.C. Pettis
Jones, Okla. Pickle
Jones, Tenn. Pike
Jordan Poage
Karth Preyer
Kastenmeier Price, Ill.
Kazen Price, Tex.
Kemp Pritchard
Ketchum Qulo ack
King
Kl.uczynski Rangel
Kyros Rees
Lagomarsino Regula
Latta Reuss
Rhodes
Riegle
Rinaldo
Roberts
Robison, N.Y.
Rodino
Roe
Rogers
Rooney, Pa.
Rose
Rosenthal
Rostenkows
Roush
Rousselot
Mayne
Mazzola,
Meeds
Metcalfe
MezvinskY
Michel
Ilford
iller
Sandman
Sarasin
Sarbanes
Schneebeli
Sebelius
Seiberling
Shoup
Shriver
Shuster
Sikes
Sisk
ell, Md.
ell; N.Y.
Moorhe
Calif.
Moorhea
Morgan
Mosher
Murphy, N.
Murtha
Natcher
Nelsen
Nichols
Nix
Obey
O'Brien
O'Hara
O'Neill
Owens
Parris
Lehman
Lent
Long, La.
Lujan
McClory
McCloskey
McCollister
McCormack
McDade
McEwen
McFall
McKay
McKinney
Macdonald
Madden
Madigan
Mahon Roybal
Mann Many Runnels
Martin, N.C. Ruth
Mathias. Calif, Ryan
Approved For 6~Jg9 4Qfi : 75EMW 000700040 c ust
may have unt'l midnight tonight to file
a conference report on the bill H.R. 15572,
the Department of Housing and Urban
Development, Space, Science, Veterans,
and Certain Other Independent Agencies
Appropriation Bill for 1975.
The SPEAKER. Is there objection to
the request of the gentleman from Mas-
sachusetts?
There was no objection.
CONFERENCE REPORT .(II. REPT. No. 93-1310)-
SO the Oill was p- xu. The
The Clerk an unced the following agreeing votes of the two Houses on the
amendments of the Senate to the bill (H.R.
pairs: 15572) "making appropriations for the De-
Oxl this vote partment of Housing and Urban Develop-
Mr. Annunza or, with Mr. Conyers against. ment; for space, science, veterans, and certain
Until fort r notice' other independent executive agencies, boards,
Mr. Heber with Mr. Holifield. commissions, corporations, and offices for the
Mr. Eilbe with Mr. Davis of Georgia. fiscal year ending June 30, 1975, and for
other purposes," having met, after full and
Mr. Koc ith Mr. Aspin. free conference, have agreed to recommend
Mr. I)Mlohue with Mr. Ranch. That the Senate recede from its amena-
Mr. ndrum with Mrs. Griffiths. ments numbered, 5, 8, 10, 11, 20, 30, 34, 35,
Mr edza with Mr. McSpadden. 38 41, 60, and 61.
Ivr Evans of Tennessee with Mrs. Green of q,4ia,t the House recede from its disagree-
'r. Stephens with Mr. Baker. numbered 3, 9, 14, 22, 26, 27, 42, 43, 46, 4u, ra,
r. Teague with Mr. Carey of New York. 50, 55, and 57, and agree to the same.
Mr. Van Deerlin with Mr. Peyser. recede from its disagreement to the amend-
Mr. Evans r ColoraMr. do with Mr. Quillen, ment of the Senate numbered 1, and agree
with Steele. to the same with an amendment, as follows:
Mr. Gunter
Mr. Hawkinf with M Mr. . Reid. In lieu of the sum proposed by said amend-
Mr. Jones of Alabama with Mrs. Hansen of ment insert "$13,233,000"; and the Senate
The result of the vote was announced recede Amendment its disagreement That ui amend-
as above recorded. ment of the Senate numbered 6, and agree
A motion to reconsider was laid on the to the same with an amendment, as follows:
ble. In lieu of the sum proposed by said amend-
ment LEAVE ment insert "$197,000,000"; and the Senate
Agree to the same.
son, Bob vise
son, elude xtraneous material, on the bill ment insert "$123,375,000' ; and the Senate
Charles, Tex. just p ed. agree to the same.
inn The` FAKER. Is there Objection to Amendment numbered 12: That the House
Wolff nt to Wright the req t of the gentleman from Ohio? recede of from Senate numbered 12, the agree
Wydler
Wylie lows: In lieu of the sum proposed by said
Wyman APPO MENT OF CONFEREES amendment insert "$65,000,0,00". and the
Yates ON S. 355 Senate agree to the same.
Yatron Amendment numbered 13: That the House
Young, Ga. Mx . STA FRS. Mr. Speaker, I ask recede from ats disagreement to the amend-
Young, Ill. to take from the
Young, S.C. unanimous 's tabs the sent Senate bill (S. 355) ment of the Senate numbered 13, and agree
Young, Tex. Speaker to the same with an amendment, as follows:
Zablocki to amend the ionai Traffic and Motor in lieu of the sum proposed by said amend-
Zwach Vehicle Safety t of 1966 to promote ment insert "$6,130,000"; and the Senate
uses to comply wi otor vehicle safety Amendment L= .__? e its
d standards shall remedied without mreced enteofLthe Se aite numbered 15hand agree
charge to the owne nd for other pur- to the same with an amendment, as follows:
poses, with the e amendments
_ _a z In lieu of the sum proposed by said amend-
In
,5rr euar R. ~o
the request of the gentle from West menu of tthe W Senate numbered follagree
STAGGERS, MOSS, STUCKEY, DEVINE, and agree to the same.
BROYHILL of North Carolina. Amendment numbered 17: That the House
unanimous consent that the managers Amendment Smith, Iowa
recede from its disagreement to the amend-
ERMISSION FOR MANAGERS TO ment
the of the with to numbered t7,aa fdllo agre
FILE A CONFERENCE REPORT ON In lieu of the sum proposed by said amend-
H.R. 15572 ment insert "$6,626,000"; and the Senate
Mr. BOLAND, Mr. Speaker, I ask agree to the same.
18: That the House
Smith, N.Y.
Spence
Staggers
Stanton,
J. William
Stanton,
James V.
Stark
Steed
Steelman
Steiger, Ariz.
Steiger, Wis.
on, N.J.
n, Wis.
Tho
Tho
Traxler
Treen
Udall
Ullman
Vanik
Veysey
Vigorito
Waggonne
Walsh
Ware
Whale
White
Whit
Whit, tsein Bevill yU mmer- Powell,lOhio
Jilarlk;1
Bray janrahan Robinson, Va.
_-__?-- co++aweelA
va iIOy, ~? -'-- _._- Taylor, MO.
Chappell Hunt
Clancy Ichord Towell, Nev.
Conlan Jarman Wampler
Crane Kuykendall Wilson,
Daniel, pan Landgrebe Charles if.,
Denhoi Litton Calif.
Dent Long, Md. Young, Alaska
Devi Lott Young, Fla.
Dick' son Luken Zion
Din 11 Maraziti
Du Can Mathis, Ga.
NOT VOTING=37
Annunzio Griffiths Peys
Baker Hansen, Wash. Quijen
BrascO Hawkins ROOM
Co .1- --- ney, N.Y,
Conye nyers Hogan -
Davis, Ga. Holifleld teele
Donohue Jones, Ala. Stephens
Eilberg Koch Stuckey
Evans, Colo. Landrum Teague
Evans, Tenn. Leggett Van Deerlin
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 August 21, Y974Approved F?/~6/~ECIAtDPB
r
recede from its disagreement to the amend-
ment of the Senate numbered 18, and agv
to the same with an amendment, as follows:
In lieu of the sum proposed by said amend-
ment insert "$18,928,000"; and the Senate
agree to the same.
Amendment numbered 19: That the House
recede from its disagreement to the amend-
ment of the Senate numbered 19, and agree
to the same with an amendment, as follows:
In lieu of the sum proposed by said amend-
ment insert "$28,563,000"; and the Senate
th me
t
Amendment numbered 52: That the House
recede from its disagreement to the amend-
ment of the Senate numbered 52, and agree
to the same with an amendment, as follows:
in lieu of the sum proposed by said amend-
ment insert "$420,000,000"; and the Senate
agree to the same.
Amendment numbered 53: That the House
recede from its disagreement to the amend-
ment of the Sentae numbered 53, and agree
to the same with an amendment, as follows:
In lieu of the sum proposed by said amend-
ment insert "$223,925,000"; and the Senate
agree
o a Amendment numbered 21: That the House agree to the same.
recede from its disagreement to the amend- Amendment numbered 54: That the House
ment of the Senate numbered 21, and agree recede from its disagreement to the amend-
to the same with an amendment, as follows: ment of the Senate numbered 54, and agree
In lieu of the sum proposed by said amend- to the same with an amendment, as follows:
ment insert "$268,000"; and the Senate agree aIn lieu of the mendment insert sum "$43,796,000";d
43, ro posed and the
to the same. Senate agree to the same.
Amendment numbered 23: That the House
recede from. its disagreement to the amend- Amendment numbered 56: That the House
anent of the Senate numbered 23, and agree recede from its disagreement to the amend-
to the same with an amendment, as follows: ment of the Senate numbered 56, and agree
In lieu of the sum proposed by said amend- to the same with an amendment, as follows:
ment insert "$140,155,000"; and the Senate In lieu of the sum proposed by said amend-
agree to the same. ment insert "$2,050,000"; and the Senate
Amendment numbered 24: That the House agree to the same.
recede from its disagreement to the amend- The committee of conference report in dis-
ment of the Senate numbered 24, and agree agreement amendments numbered 2, 4, 28,
to the same with an amendment, as follows: 29, 32, 44, 47, 51, 58, and 59.
P BOLAND
ment insert "$77,020,000"; and the Senate
agree to the same.
Amendment numbered 25: That the House
recede from its disagreement to the amend-
ment of the Senate numbered 25, and agree
to the same with an amendment, as follows:
In lieu of the sum named by said amendment
insert "$1,940,000"; and the Senate agree to
the same.
Amendment numbered 31: That the House
recede from its disagreement to the amend-
ment of the Senate numbered 31, and agree
to the same with an amendment, as follows:
In lieu of the sum proposed by said amend-
ment insert "$661,500,000"; and the Senate
agree to the same.
Amendment numbered 33: That the House
recede from its disagreement to the amend-
ment of the Senate numbered 33, and agree
to the same with an amendment, as follows:
In lieu of the matter stricken and inserted
by said amendment insert "more nor less";
and the Senate agree to the same.
Amendment numbered 36: That the
House recede from its disagreement to the
amendment of the Senate numbered 36, and
agree to the same with an amendment, as
follows: In lieu of the matter stricken and
inserted by said amendment insert: "more
nor less"; and the Senate agree to the same.
Amendment numbered 37: That the House
recede from its disagreement to the amend-
ment of the Senate numbered 37, and agree
to the same with an amendment, as follows:
In lieu of the sum proposed by said amend-
ment insert "$65,150,000"; and the Senate
agree to the same.
Amendment numbered 39: That the House
recede from its disagreement to the amend-
ment of the Senate numbered 39, and agree
to the same with an amendment, as follows:
In lieu of the matter stricken and inserted
by said amendment insert "more nor less";
and the Senate agree to the same.
Amendment numbered 40: That the House
recede from its disagreement to the amend-
ment of the Senate numbered 40, and agree
to the same with an amendment, as follows:
In lieu of the sum proposed by said amend-
ment insert "$5,500,000"; and the Senate
agree to the same.
Amendment numbered 45: That the House
recede from its disagreement. to the amend-
ment of the Senate numbered 45, and agree
to the same with an amendment, as follows:
In lieu of the sum proposed by said amend-
ment insert "$45,000,000"; and . the Senate
agree to the same.
EDWARD ,
JOE L. EviNs,
GEORGE E. SHIPLEY,
J. EDWARD ROUSH,
ROBERT 0. TIERNAN,
BILL CHAPPELL,
ROBERT N. GIAIMO,
GEORGE H. MAHON,
BURT L. TALCOTT,
JOSEPH M. MCDADE,
WILLIAM J. SCHERLE,
EARL B. RUTH,
ELFORD A. CEDERBERG,
Managers on the Part of the House.
WILLIAM PROXMIRE,
JOHN C. PASTORE,
JOHN C. STENNIS,
BIRCH BAYH,
LAWTON CHILES,
JOHN L. MCCLELLAN,
FRANK E. Moss,
CHARLES MCC. MATHIAS, Jr.,
CLIFFORD P. CASE,
HIRAM L. FONG,
EDWARD W. BROOKE,
TED STEVENS,
MILTON R. YOUNG,
Managers on the Part of the Senate.
JOINT EXPLANATORY STATEMENT OF
COMMITTEE OF CONFERENCE
tration of the section 23 leasing program, un-
less the unused balance of contract author-
ity under the section 236 program, or any
replacement program, is also made available
for commitment concurrent with any con-
tract authority under the section 23 pro-
gram, instead of the language proposed by
the Senate.
The committee of conference is agreed that
the action of the conferees is not meant to
impede the section 23 program. The intent is
to permit the department to utilize available
resources, at the earliest date, to fill the need
for low income housing to the extent other
programs will not meet those needs.
The Secretary is expected to approve com-
mitments of such available funds for new
projects for the purpose contemplated by the
Congress in enacting the Housing and Com-
munity Development Act of 1974, as indi-
cated in the joint explanatory statement of
the committee of conference accompanying
S. 3066.
The conferees are also agreed that the pro-
visions relating to operating cost subsidies
in the new section 236 program authorized
by the Housing and Community Development
Act of 1974 shall not apply to the unused
balances of outstanding contract authority
that may be committed for new projects pur-
suant to this act.
The managers on the part of the Senate
will move to concur in the amendment of the
House to the amendment of, the Senate.
Amendment No. 3: Appropriates $2,300,-
000,000 for housing payments as proposed by
the Senate, instead of $2,425,000,000 as pro-
posed by the House.
Amendment No. 4: Reported in technical
disagreement. The managers on the part of
the House will offer a motion to recede and
concur in the Senate amendment with an
The managers on the part of the House
and the Senate at the conference on the dis-
agreeing votes of the two Houses on the
amendments of the Senate to the bill (H.R.
15572) making appropriations for the De-
partment of Housing and Urban Develop-
ment; for space, science, veterans, and cer-
tain other independent executive agencies,
boards, commissions, corporations, and of-
fices for the fiscal year ending June 30, 1975,
and for other purposes, submit the following
joint statement to the House and the Sen-
ate in explanation of the effect of the action
agreed upon by the managers and recom-
mended in the accompanying report:
TITLE I-DEPARTMENT OF HOUSING AND URBAN
amendment to insert language earmarking
not less than $450,000,000 for the payment
of operating subsidies to local housing au-
thorities. The managers on the part of the
Senate will move to concur in the amend-
ment of the House to the amendment of the
Senate.
The committee of conference agrees with
the language contained in the Senate report
stating that the Housing Act of 1937 as
amended by the Congress in 1970 allows pay-
ment of limited operating funds by housing
authorities to support public housing tenant
organizations. The committee of conference
expects that operating subsidies appropriated
in this act will be used to promote improved
communication between tenants and man-
agement in public housing. Insofar as oper-
-ating subsidies are used in this manner, the
conferees expect the Secretary of HUD to
exercise adequate budgetary and account-
ability safeguards to be imposed by local
housing authorities or tenant organizations
to insure that these funds will be used in
a constructive manner.
Amendment No. 5: Appropriates $23,-
400,000 for salaries and expenses, housing
management programs as proposed by the
House, instead of $21,825,000 as proposed
by the Senate. -
Amendment No. 6: Appropriates $197,-
000,000 for urban renewal programs, instead
of $200,000,000 as proposed by the House and
$194,000,000 as proposed by the Senate.
Amendment No.__ 7: Appropriates $123,-
375,000 for model cities programs, instead of
$125,000,000 as proposed by the House and
$121,250,000 as proposed by the Senate.
,
,
pp
:
o.
Amendmen
for salaries and. expenses, housing produc- Amendment No. 8: Restores language pro-
tion and mortgage credit programs, instead posed by the House to earmark $1,000,000 for
of $14,340,000 as proposed by the House and rehabilitation and redevelopment of the
$12,125,000 as proposed by the Senate. DeKalb County, Tennessee, model cities area
Amendment No. 2: Reported in technical devastated by recent tornado damage.
disagreement. The managers on the part of Amendment No. 9: Deletes language pro-
the House will offer a motion to recede and posed by the House to appropriate $70,-
concur-in the amendment of the Senate with 000,000 for the rehabilitation loan fund, as
an amendment to provide that no adminis- proposed by the Senate.
DEVELOPMENT
000
233
ropriates $13
A
1
t N
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Amounts
000
000
000
420
000
000
000
1975 -----------------
EDWARD P. BOLAND,
JOE L. EVINS,
GEORGE E. SHIPLEY,
J. EDWARD ROUSH,
ROBERT O. TIERNAN,
BILL CHAPPELL,
ROBERT N. GIAIMO,
GEORGE H. MAHON,
BURT L. TALCOTT,
JOSEPH M. McDADE,
WILLIAM J. SCHERLE,
EARL B. RUTH,
ELFORD A. CEDERBERG,
Managers on the Part of the House.
WILLIAM PROXMIRE,
JOHN 0. PASTORE,
JOHN C. STENNIS,
BIRCH BAYN,
LAWTON CHILES,
JOHN L. MCCLELLAN,
FRANK E. Moss,
CHARLES MCC. MATHIAS, JR.,
CLIFFORD P. CASE,
HIRAM L. FONG,
EDWARD W. BROOKE,
TED STEVENS,
MILTON R. YOUNG,.
Managers on the Part of the Senate.
ON H.R. 1
the request of the gentleman fro
Massachusetts?
There was no objection.
PERSONAL EXPLANATION
Mr. PRICE of Texas. Mr. Speaker,
recorded as not voting in the
SIONAL RECORD, however, I wa
the
am
FOREIGN INVESTMENT STUDY ACT
OF 1974
Mr. CULVER. Mr. Speaker, I move
that the House resolve itself into the
Committee of the Whole House on the
State of the Union for the consideration
of the bill (H.R. 15487) to authorize the
Secretary of Commerce and the Secre-
tary of the Treasury to conduct a study
of foreign direct and portfolio invest-
ment in the United States, and for other
purposes.
The SPEAKER. The question is on the
motion offered by the gentleman from
Iowa (Mr. CULVER).
The motion was agreed to.
IN THE COMMITTEE OF THE WHOLE
Accordingly the House resolved itself
into the Committee of the Whole House
on the State of the Union for the con-
sideration of the bill H.R. 15487, with
Mr. ECKHARDT in the chair.
The Clerk read the title of the bill.
By unanimous consent, the first rea
The CHAIRMAN. Under the rule - e
gentleman from Iowa (Mr. CULVE ill
be recognized for 30 minutes, offi the
gentleman from Florida (Mr. RKE)
Mr. CULVER. Mr. Chair n, I yield
myself such time as I may sume.
Mr. Chairman, today are present-
ing H.R. 15487, the For n investment
Study Act, to authoriz thorough sur-
vey of foreign investm t activity in this
country. The purpose this bill is to de-
velop a firm and rel' le data base from
which both the Co ess and the Execu-
tive can derive res sive and responsible
olicy recommen tions.
The bill is th roduct of unanimous
Economic Po . Our investigative hear-
ings earlier is year disclosed both that
there is Co erable alarm about present
and pote 1 foreign investment in the
United S es, and that the available in-
formati against which to gage this
concer s seriously deficient.
The st benchmark survey of direct
forei investment in this country was
con ted in 1959, and the last one on
aor lio investment took place in 1949.
periodic reporting or disclos
ments.
for a full study and a final report, wi
an interim report due in 18 months.
Mr. Chairman, this is a responsible first
step toward dealing with a phenomenon
that is of increasing concern to many
foreseeable
mIpAiialysts Iflan triple the level of preceding
ypointed to successive dev ions of the dollar, and the steep
investors. Wide publicity was given to in-
dustrial takeovers such as the acquisi-
tion of Texas Gulf by the-Canadian De-
velopment Corp. Rumors grew of Jap-
anese and other foreign interest in farm-
land and natural resources-rumors that
were fueled by the very unavailability of
accurate information that this bill seeks
to correct.
Of course 1973 ended with the Arab
oil boycott and, much more significantly,
the quadrupling of international oil
prices. This is likely to have a substan-
tial dampening effect on foreign invest-
ment activity by the more developed
countries such as England and Holland
and Japan who have historically or in
the recent past been most active in this
country. But their balance-of-payment
loss is the exporting countries' gain, and
we must not gear ourselves to deal with
the investment needs and interests of
these newly affluent nations.
The oil exporting countries will have
some $60 billion in excess currency re-
serves at the end of 1974, as compared
with a $5 billion surplus in 1970. It has
been calculated that at presently prevail-
ing world prices the cumulative surplus
oil revenues-those that the exporting
countries cannot expend for internal
purposes-may reach as much as as $400
billion by 1980. At present much of the
excess is going into short-term bank de-
posits and various forms of portfolio in-
vestment. But this will clearly not suffice
for the long run, and Iran's recent pur-
chase of a one-third interest in Krupp is
a harbinger of things to come.
Mr. Chairman, the interests of the
United States in this situation do not all
run in one direction. Clearly there is
danger in leaving these huge oil sur-
pluses, over-hanging and disturbing in-
ternational currency markets. Properly
guided, these funds can make a positive
contribution to our own balance of pay-
ments, to employment, and to the circu-
lation of capital within our economy.
That is why, although I share the genu-
ine concern that has prompted various
tl' i, to settle on a definite policy course
at this time.
The one thing we do owe the Amer-
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New budget (obligational)
authority, fiscal year 1974 $20,
813,
036,
Budget estimates of new
(obligational authority (e.g
amended), fiscal year 1975
21,
436,
813,
House bill, fiscal year 1975
20,
846,
332,
Senate bill, fiscal year 1975
21,
210,
718,
Conference agreement _-_-
21,
215,
812,
Conference agreement com-
pared with-
New budget (obligation-
al) authority, fiscal year
1974 _
4 402
776,
Budget estimates of new
(obligational) authority
(as amended), fiscal
year 1975--------------
-221,001,
House bill, fiscal year
1975
Senate bill, fiscal year
 `T . 40 Approved For ReX~ C - P75B0038OR000700040023-0
~.., , A[. i. , _ RD --- HOUSF. A if ~7 t '~ t
or 'rpun.d public policy. We must
the n essary distinctions between
uii and t entially damaging foreign
r tee'.' at ' Tt Was the near itn limous
n 1 ion nl h ?' h witnesses and ml~bers
that, exrxt.inn d on
I i . 154R'7- introduced with the snonsbr-
a tr r all the members of the s?rbcommittee
a Soreign. ynonomic Policy and reported
,vorabiy, without objection, t;v the Com-
il:.!n