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About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Dec. 5, 1963)
PAGE-1U HERALD AND NEWS, Klamath Falli. OrrBon Thursday, Dewmber 5. IMS Economy Moves May Bring $40 Million Fiscal Hangover SALEM UPI -The special session of the legislature enact ed the economy moves demand ed by the voters' Oct. 15 tax referendum. The result could he a MO mil lion fiscal hangover. That may be the amount of new revenue needed during the l5-67 biennium just to main tain the austerity level of state services now in effect Even if you eliminate all cap ital construction for state insti tutions and higher education that has been planned for, or postponed to the next biennium. revenues may be $20 million short of what will be needed. By junking capital construc tion, chopping basic school aid and trimming general fund agency budgets, the legislature during the special session en dorsed the governor's program to slice the state's $404 million general fund budget to about $360 million. Lawmakers also had to dip into next biennium's income for an additional $12 million to keep the reduced budget in (lie black. The $12 million, added to $8 million of one-shot revenues ap proved during the regular ses sion, means that through book keeping changes, $20 million of income Uiat normally would have been collected during the 1956-67 biennium has been move ahead to help ease the bite this biennium. This "rob Peter to pay Paul'' move simply means the state's income will be $20 million short next biennium. Legislative Fiscal Officer Ken neth Bragg estimated the state's revenues next biennium may be about $370 million. He estimated a $411 million general fund budget would be needed just to maintain cut-back This means the 13 legisla ture will start off more than $40 million short of what it needs to help keep the state's books in the black. Bragg is quick to point out there are many variables that could change this picture. Fed eral income tax cuts could "in crease the state's tax revenues. Further delay of building pro jects could ease spending re quirements. But the inescapable fact re mains tliat normal increases in population at state institutions, schools, colleges and universi ties will demand more spending. Lawmakers will be spending much of their time between now and the next legislative session trying to find an answer. It seems there may be no way to avoid having to raise additional revenue. Taxpayers are going to have to begin thinking now about such unhappy possibilities as sales and cigarette taxes, and revision of the state's personal income tax laws. While the Oct 15 referendum resulted in economy, another tax referendum in quick ordjr could result in fiscal disaster for Oregon. CALIFORNIA FARMERS SA FRANCISCO (L'PI) -California farmers produced $3.3 billion worth of farm prod ucts last year more than the value of all the gold mined in the state since the gold rush of 1849. SUCCESSFUL MEETING One of the most successful report meetings of this year's United Fund campaign was held this week with over 30 campaign workers in attend- .... r.iL-t;..... r - ts nnn u,... rrt,4 t u At:r,n uu -i u. w: nema Hotel. Most of the money came from small firms and individuals. Here, cam paign chairmen and workers are shown at the meeting. They are (left to rightl Bob Davies, solicitor for the Downtown II Division; Keith Cobo, chairman of Downtown II; Dick Green, president of the United Fund; Leonard Jones, chairman of Downtown I; Mai. Curtiss Gruye, chairman of the Kingsley Field Division; Julia Brown, chairman of Public Employes; Paul Meier, general campaign chairman, and Loren Palmerton, chairman of the County Division. Khrushchev's Common Market Program Folds Due To Friction With Satellites LONDON (VPS) Soviet Premier Nikila S, Klirushchev's plans for a satellite Common Market have collapsed because of friction between his East Eu ropean allies and Moscow, a Western analysis showed today, Tlie royal Institute for inter national affairs said in its pub lication "Tlie World Today" that Klirusholiev's plan for close economic Integration of the sat ellites was defeated by "a mo mentous conflict over economic relations which began in mid 1902." Khrushcliev's plan was to force a "Socialist division of labor" on the satellites, creating a single economic unit out of the entire bloc and hav ing each nation produce what it was best equipped to do, But this would have meant Hint backward nations like Bul garia and Romania would have been condemned to continued agricultural production, while the moro doveloped rations like Czechoslovakia and East Cer : many would have their indus ; try built up even more. ' - Romania, which had been try ing to develop its Industry, was the leader of opposition to tho plan. Tlie rebellion in Romania and the other satellites shows that (Jicre is now "primacy of The satellites could not have nationalism over communism" carried off their opposition in tlie area, the royal institute without the unwitting aid of said. Communist China. When QUITTING BUSINESS! EVERY PAIR OF FAMOUS MAKE SHOES MUST GO AT CLOSEOUT PRICES. ENTIRE STOCK MUST BE CLEARED. SAVE ON MEN'S, WOMEN'S, CHILDREN'S SHOES. FOR EXAMPLE CHILDREN'S SHOES FAMOUS POLL PARROT Each pair propai with care a van di quitting business ry and Save! VALUES TO $6.99 PARROT . irly fitted C luring thii ale. Hur- T K T 3 1 5 S27 i" 0PEN Main . - 11 Jj T f IVENINGS Cl9Tid?J. Still :oo Phone 3ei W$ Except Sot. TU 4-5177 IMC an(i $un. S OPEN FRIDAY NIGHT TILL 9:00 WARRANTED MASTERPIECES ! Deluxe LIVING... Deluxe GIVING! 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