Extensions of Remarks

December 9, 1974 EXTENSIONS OF REMARKS 38693 paragraph (4) of this subsection, then under business the interest in which is transferred spect to the income from which a deduction regulations prescribed by the Secretary or his or by the transferor of such interest. for depletion is allowable under section 611 delegate, such sale or other disposition shall "(F) OIL OR GAS DEPLETION PROPERTY DE· (b) ( 1) for domestic crude oil or domestic not result in an increase in the aggregate FINED.-For purposes of this paragraph, the natural gas but only if the underlying min exemptions allowed under this subsection term 'oil or gas depletion property• means eral property is capable of producing oil or with respect to oil or gas depletion properties any property interest (including an interest gas in commercial quantities at the date of held on the date of such transfer by such in a partnership, trust or estate) with re- transfer of such property." EXTENSIONS OF REMARKS BAKE A BIGGER PIE step for the immediate term. It holds little considered by the Congress both in past promise or hope for the long pull. years and in this year, and have been It ignores the classic corrective to infla rejected. It ts not likely that a Congress HON. JESSE A. HELMS tion: produce more goods and services. For that has thoroughly investigated these OF NbRTH CAROLINA as supplies increase, prices tend to decrease in a reasonably free market. items and voted rejections would re IN THE SENATE OF THE UNITED STATES We have been '/ears in building the foun verse its findings and enact such taxes Monday, December 9, 1974 dation for our present inflation. or levies without due consideration and We have transferred too many assets from overwhelming proven need. Mr. HELMS. Mr. President, I wish to the productive to the nonproductive sector. In addition, the President, acting on share with my colleagues a superb edi We have discouraged the building of ade well-meaning but incomplete advice, torial statement on inflation which ap quate capacity through archaic and inade quate capital recovery policies. would levy taxes and fees on industries peared in the November 11, 1974, issue that are continuing to perform well in of Industry Week. The author is Mr. We have worked against increasing pro ductivity by a massive collection of laws and the face of declining national conditions. Walter J. Campbell, consulting editor of policies that reward the nonproducers just These taxes coud well mean the ditier this fine magazine and a distinguished about as well as they reward the producers. ence between survival and failure. citizen of Whispering Pines, N.C. We have permitted restrictive work prac I speak specifically to an item of tre Our present inflationary crisis, as Mr. tices. We have encouraged incompetence on mendous importance to not only my dis Campbell correctly observes, is the result the job. We have dictated that vast sums be trict jn southern California but to the of past mistakes that are being perpetu spent on nonproduction equipment. Nation as a whole; namely, aviation ated into the future. In particular, we Shouldn't we now be thinking about producing more? and general aviation in particular. are burdened with an antiquated philoso To combat inflation? The President has requested the Con phy that is producing fewer goods and To correct shortages? gress to permit the levying of double services. No matter what area of the To build strength? taxes or fees on general aviation. The ra economy we examine, we find economic To restore pride? tionale and method proposed have each policies that have brought about a de We have proved that we can do it in past been considered, not once, but twice, by cline in the quantity and quality of goods emergencies-when we produced food and the Congress and rejected. and services. fuel and materiel for America and much of the rest of the world. The administration proposes tha·t we Much of our fuel shortage can be at Needed are better tools-a will to work repeal the congressional limitation tributed to our overzealous interest in and a political philosophy that will give placed in the fiscal 1975 appropriation protectionist considerations that have greater rewards to those who produce useful bill that kept the Department of Trans discouraged production. Our businesses, goods and services than to those who only portation from administratively levying both large and small, are tied down by consume. fees for such services and licenses that Federal regulations and controls that the DOT and FAA had required by vir discourage competition, efficiency, and tue of their regulatory powers. There is production. Our whole tax system is de BUDGET PROPOSALS COULD CRIP nothing wrong with charging a nominal signed to punish those who mvest their PLE ECONOMY OF GENERAL AVIA fee for administrative costs for Govern assets in savings, thus discouraging capi TION ment services where a singular benefi tal growth. Our Federal Reserve Board ciary can be readily identified and that has pursued a monetary policy that has HON. BARRY M. GOLDWATER, JR. service is provided for him alone. That is created a situation whereby there is too traditional in Government. But to levy much money going after too few goods OF CALIFORNIA IN THE HOUSE OF REPRESENTATIVES fees that are not only exorbitant but and services. The list of economic policies are the results of rulemaking and re that have given rise to our current spiral Monday, December 9, 1974 quirements ostensibly dictated by the of inflation is seemingly endless. Mr. GOLDWATER. Mr. Speaker, Presi need for public safety was and is deemed The solution, of course, does not lie in dent Ford has taken an important and improper by the Congress. further reductions of goods and services, timely step by requesting all Federal The application and fee·schedules pro but "in a total rethinking of our present agencies to reduce spending, with the posed are arbitrary and aimed directly system of laws. The major point of Mr. help and guidance of the Congress. Fur at recouping costs that are presumably Campbell's editorial is clear enough: ther, the President has proposed a course incurred because the safety of the Not until we return to a general policy of congressional action that will require public at large must be protected by of encouraging economic growth and de legislative restraint to aid and assist in permitting only properly designed and velopment will the country regain its reducing the flow of Federal moneys into constructed aircraft to fly through the economic stability. the inflation-sensitive economy. Nation's skies; manned by professional Mr. President, with this in mind I ask The President's program is for wide airmen who have passed exhaustive unanimous consent. that the editorial reduction and rescissions. I would be less training and repetitive flight tests. These by Mr. Campbell be printed in the REC than honest if I did not point out to the design, personnel and operating stand ORD at the conclusion of my remarks. President that his desire for prompt en ards are required to be developed and are There being no objection, the editorial actment in the closing days of the post required to be enforced by a Federal was ordered to be printed in the RECORD, election Congress will be almost an im agency acting on behalf of the public. as follows: possible task. Another regulatory agency attempted BAKE A BIGGER PIE The legislative process requires due such arbitrary recoupment and was re (By Walter J. Campbell) process in all but the most dire national cently rebuffed in the highest court. We are hearing a great deal about cutting emergencies, and no matter how in Congress has twice thoroughly investi consumption to combat inflation. About creasingly troubled the economic signs using less. About taxing more to discourage gated this possible fee structure and use. become, it would appear unrealistic to ex turned it down. i believe that it is un We are hearing too little about producing pect this outgoing Congress to take ac fortunate that the administration would more. About increasing capacity. About im tions of the magnitude requested in this include this method in its proposal when proving productivity. About discovering al worthwhile program. there are other more effective alterna ternatives for scarce items. In addition, the required legislative tives. Cutting consumption may be a necessary action includes items that have been As a member of the Interstate and 38694 EXTENSIONS OF REMARKS December 9, 1974 Foreign Commerce Committee, which service stations at others. The decision provided 250 millions of dollars in bal has been charged with responsibility for to install these facilities and man them ance-of-payment credits from export of aviation affairs, I realize that the equi with Federal employees was and is a aircraft, engines and spare parts to the table payment of reasonable fees by the Federal decision based on Federal anal world's general aviation market. users of our Nation's airports and air ysis that public safety required govern Airport landing fees levied by the air way system has long been an important mental control. At some airports, radar is port operator are normal business pro consideration. Like all of our national also installed to permit traffic separation cedures and should be supported and transportation systems, our airspace in any kind of weather. Such separation should not be accidentally or deliberately system is one of the greatest in the standards also result from Government negated by ill-timed Federal legislation, world. It was essentially developed by decision. It should be pointed out that no matter how well meaning.

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