Date: December 5, 1975
Subject: New York City Bailout
Description: Passage of the bill to authorize federal loans of up to $2.3 billion a year through June 30, 1978 to help New York City meet its seasonal cash flow needs. President Ford compromised on his earlier opposition to New York City aid, even though no major steps were taken or guarantees made to balance New York City's budget.
Result: Bill Passed, 57-30
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