Congress' Week

Republican leaders in Congress decided last week that the grave state of world affairs did not preclude income tax reductions. Hoping to make new witholding rates effective on May 1--even if a presidential veto had to be overridden to do it --the Senate plunged into debate on its bill to slash taxes by $4.8 billion. A handful of Democrats tried to stall the Republican timetable. Wyoming's Joe O'Mahoney proposed an amendment to restore taxes on excess profits. Arkansas' J. William Fulbright and South Carolina's Burnet Maybank, both irked because the House Agriculture Committee had killed 18 bills to repeal punitive taxes on oleomargarine, tried to hook a repeal rider on to the income tax bill. But in each case, it was no go. This week, the bill was overwhelmingly approved, 78 to 11.

The Senate also:

P: Amended the Neutrality Act to give the President authority to arm merchant ships in emergencies. P:Received a report from Oregon's Guy Cordon, chairman of a Subcommittee on Territories and Insular Affairs, recommending statehood for Hawaii.

The House:

P:Approved a $55 million advance for France, Italy and Austria, to tide them over until ERP becomes effective.

P: Whipped up a Department of Agriculture appropriation bill of $545 million (v. an Administration budget request of $635 million), thus reached--far ahead of schedule--the halfway point in its budget-trimming program.

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