Idle is high

The idle on my caprice is running high. Fuel economy is suffering and i need to figure out what to do. Maybe its the idle solinoid or something? I did find an unconnected link near the exhaust headers i think it is on the passenger side. I think it must direct hot exhaust air into the intake maybe but the rod that connects to it is pretty rusted stiff. Is this a common problem with these older caprices "1983 4BL 305"?

Make sure that you have no vacuum leaks. That line is one.