Testimony of James C Miller Before the Subcommittee on Transportation and Commerce: House Interstate and Foreign Commerce Committee

by James C. Miller on February 4, 1976
by James C. Miller

Mr. Chairman, members of the Committee: It is both an honor and a pleasure to be invited to appear before you today. As you know, the Council on Wage and Price Stability was established in August of 1974 to monitor wages and prices and, among other things, to review and appraise the inflationary impacts of various actions in the private sector and those of the Federal Government. In this vein, on November 21, 1975, the Council submitted to Congress its views with respect to the possible inflationary impact of the National Railroad Passenger Corporation’s proposed criteria and procedures for making route and service decisions for AMTRAK. We concluded that the criteria proposed by the Corporation could have significant inflationary effects. This is not to say that Congress necessarily should reject or modify them. For other, possibly more important, reasons, Congress may wish to grant its approval. But it would appear to us that the likely inflationary effects are profound and that Congress should give serious consideration to rejecting the proposed criteria and directing the Corporation to provide something better…

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