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Tax Credits For Business Equipment Approved By House Committee
The House Ways and Means Committee approved a 7 percent investment credit for equipment and production facilities, reshaping Nixon’s 10 percent then 5 percent plan. It allows credits for used gear up to 50 000 while permitting some foreign purchases under national interest rules. The move aims to steady relief and boost the economy with extended future impact.
MENTIONED IN THIS ARTICLE
Washington
House
Ways and Means
Nixon
Secretary of the Treasury
John B. Connally
Tration
Senate
Connally
Ways and Means Committee
United States