The Nation: Jimmy's Carrot-and-Stick Plan

Right up to the last moment, the President, Energy Adviser James Schlesinger and other officials continued to shuffle the program's blend of penalties and incentives. The major elements, as they stood at week's end:

GASOLINE TAX. The current 4¢-per-gal. federal tax on gasoline might eventually be increased in stages to as much as 54¢, with the aim of encouraging motorists to use less gas and switch from gas guzzlers to smaller cars with better mileage. The tax-setting machinery would be complicated. First the Government would gauge actual nationwide gas consumption over a set...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!