EXTENSIONS OF REMARKS October 17, 1977 Page 120, line 18, strike out "(4)" and "(11) shall be $375 for each month of any Page 126, line 3, strike out "1982" and insert in lieu thereo! " ( 5) ". taxable year ending after 1979 and before insert in lieu thereof "1986". Page 120, line 20, strike out "5.45 percent" 1981, Page 119, line 15, strike out "5.05" and in­ and insert in lieu thereof "5.55 percent". "(iii) shall be $416.66% for each month of sert in lieu thereof "5.15". Page 120, line 21, strike out "(5)" and any taxable year ending after 1980 and before Page 119, line 18, strike out "5.15" and insert in lieu thereof " ( 6) ". 1982, insert in lieu thereof "5.25". Page 120, line 22, strike out "6.00 percent" "(iv) shall be $458.33% for each month of Page 120, line 2, strike out "5.45" and and insert in lieu thereof "6.10 percent". any taxable year ending after 1981 and before insert in lieu thereof "5.55". Page 121, line 13, strike out "1985" and 1983, Page 120, line 4, strike out "6.00" and insert in lieu thereof "1982". "(v) shall be $500 for each month of any insert in lieu thereof "6.10". Page 121, after line 15, insert the following taxable year ending after 1982 and before Page 120, line 13, strike out "5.05" and new paragraph: 1984, and". insert in lieu thereof "5.15". " ( 4) in the case of any taxable year be­ Page 222, line 8, strike out "(11i)" and in­ Page 120, line 16, strike out "5.15" and ginning after December 31, 1981, and before sert in lieu thereof " (vi) ". insert in lieu thereof "5.25". January 1, 1985, the tax shall be equal to Page 222, line 10, strike out "1979" and Page 120, line 20, strike out "5.45" and 7.85 percent of the amount of the self-em­ insert in lieu thereof "1983". insert in lieu thereof "5.55". Page 222, strike out "in 1977 or 1978" in Page 120, line 22, strike out "6.00" and ployment income for such taxable year;". line 18 and all that follows down through the Page 121, line 16, strike out "(4)" and in­ insert in lieu thereof "6.10". end of line 24 and insert in lieu thereof "in Page 121, line 10, strike out "7.10" and in­ sert in lieu thereof " ( 5) ". 1978, 1979, 1980, 1981, or 1982.". Page 121, line 18, strike out "8.20 per­ sert in lieu thereof "7.25". Page 223, line 6, strike out "1977" and Page 121, line 14, strike out "7.70" and cent" and insert in lieu thereof "8.35 per­ insert in lieu thereof "1978". cent". insert in lieu thereof "7.85". Page 121, line 20, strike out "(5)" and in­ Page 125, strike out lines 22 through 25 Page 121, line 18, strike out "8.20" and sert in lieu thereof " ( 6) ". and insert in lieu thereof the following: insert in lieu thereof "8.35". Page 121, line 21, strike out "9.00 percent" "(A) in 1978 shall be $19,200, Page 121, line 21, strike out "9.00" and and insert in lieu thereof "9.15 percent". "(B) in 1979 shall be $22,200, insert in lieu thereof "9.15". By Mr. STEIGER: "(C) in 1980 shall be $25,000, Page 122, line 9, strike out "1.00" and Page 222, strike out lines 3 through 7 and "(D) in 1981 shall be $26,000, insert in lieu thereof "0.90". insert in lieu thereof the following: "(E) in 1982 shall be $27,000, Page 122, line 23, strike out "1.00" and "(i) shall be $333.33% for each month of "(F) in 1983 shall be $28,700, insert in lieu thereof "0.90". any taxable year ending after 1978 and before "(G) in 1934 shall be $30,300, and Page 123, line 15, strike out "1.00" and 1980, "(H) in 1985 shall be $31,800." insert in lieu thereof "0.90". EXTENSIONS OF REMARKS A RESOLUTION FROM THE VffiGINIA I ask unanimous consent that the text SUNSET HEARINGS PORT AUTHORITY of the Virginia Port Authority resolution be printed in the RECORD. There being no objection, the resolu­ HON. JAMES J. BLANCHARD HON. HARRY F. BYRD, JR. tion was ordered to be printed in the OF MICHIGAN OF VIRGINIA RECORD, as follows: IN THE HOUSE OF REPRESENTATIVES IN THE SENATE OF THE UNITED STATES A RESOLUTION EXPRESSING CONCERN OVER THE Monday, October 17, 1977 FuTURE OF THE PANAMA CANAL AND THE Monday, October 17, 1977 POTENTIAL EFFECT ON THE PORTS OF VIRGINIA Mr. BLANCHARD. Mr. Speaker, the Mr. HARRY F. BYRD, JR. Mr. Presi­ SHOULD THE CANAL BE CLOSED OR TOLLS Subcommittee on Legislation and Na­ dent, one aspect of the proposed Panama DRAMATICALLY INCREASED tional Security of the Committee on Gov­ Canal Treaties which has not yet been Whereas, much attention has been given ernment Operations held hearings this to the new treaties dealing with the position morning on the concept of "sunset" adequately explored is the likely eco­ of the United States with respect to the legislation. nomic impact should those treaties be Panama Canal; and ratified. I would like to take this opportunity to Whereas, the Panama Canal is one of the thank the committee chairman, Con­ Carter administration officials have major maritime gateways of the world pro­ viding Virginia ports and Virginia businesses gressman JACK BRooKs, on behalf of already conceded that there will prob­ the 140 Members of the House who have ably be an immediate 25- to 30-percent with considerable economic benefits evi­ denced by the fact that ships carried 10,700,- sponsored the various sunset bills which increase in tolls to help meet the costs of 000 tons of cargo, valued at $1.6 billion from Congressman MINETA and I have intro­ the treaties and this will surely have an and to Virginia's ports via the Panama duced this year. The Goverment Opera­ effect on the amount and types of goods Canal in 1976; and tions Committee's schedule has been ex­ sent through the canal. Whereas, Virginia industries, agricultural tremely crowded, and we appreciate the Such an increase would also have an products and coal mines contributed some chairman's courtesy in setting time aside adverse effect on cargo tonnage handled 2,100,000 tons of cargo valued at $320 mil­ lion to this total; and for us. by Atlantic and gulf coast ports and on Whereas, this port and business activity For the benefit of those members who longshore employment in those ports. provided some 22,500 jobs to Virginians; and are interested in the sunset concept, I I have today received a resolution from Whereas, the continued avilability of the would like to insert my te.!;timony before the board of commissioners o! the Vir­ Canal at tolls competitive with alternate the subcommittee in the RECORD. The ginia Port Authority concerning the pos­ methods of cargo movement is essential to testimony follows: sible effects of the canal treaties on Vir­ economic health in the Commonwealth as loss of the use of the Canal or prohibitive Mr. Chairman and members of the subcom­ ginia ports and employment. toll increases have the potential to divert mittee, I am grateful for the opportunity to The port authority estimates that over cargo from Virginia ports and to dislocate appear before you today to testify on the 22,000 jobs in the Commonwealth of Vir­ 22,500 Virginia jobs; and concept of "sunset" review of federal spend­ ginia are generated by Virginia ports and Whereas, such loss in jobs and maritime ing programs. I know that the schedule o! commerce would also lose to the Common­ your committee has been extremely crowded their related business activity and that this year. and I appreciate your willingness those jobs could be put in jeopardy by wealth $100 million spent to handle cargo and $6 million generated in direct taxes to to make time available for us on this issue. nonavailability of the Panama Canal or a Virginia.. The idea of sunset has come a long way substantial increase in canal tolls. Now therefore be 1t resolved, by the Board since Congressman Mineta and I introduced Mr. President, I am sure that other authority in regular meeting assembly at our "Truth in Budgeting b111 in 1975. ports on the eastern seaboard and the Richmond, Virginia, this 12th day of Octo­ I believe that is because there is a genuine gulf coast woultl be similarly affected and ber, 1977, that the Virginia Delegation to need for legislation of this type-an over­ the Congress of the United States is respect­ whelming need. therefore I believe that this matter fully urged to protect the uninterrupted The size and complexity of the federal should be fully explored by the Congress and efficient use of the Panama. Canal at government are such that if we are to try during the course of consideration of the tolls competitive with alternate methods of to exercise oversight in a reasonably effec­ proposed treaties. cargo movement to the ports of Virginia.. tive way, Congress must have a structure October 17, 1977 EXTENSIONS OF REMARKS 34029 which lends itself to efficient and regular It is unfortunate that some have seized streamline the organization of what is now program review. on the termination date as the embodiment an extremely complicated process, and to As all of you know, the variety and num­ of sunset.