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Proposed surcharge tests the new economics theory in Congress
Washington AP reports the stalled effort to pass a 10 percent income tax surcharge tests the 1960s economic theory behind tax cuts and deficits. The battle pits political realities against a policy aimed at smoothing the business cycle, with House Ways and Means having shelved the surcharge thrice since August. If revived, the theory could shape policy for years.
MENTIONED IN THIS ARTICLE
Joseph B. Coyne
Associated Press
Washington (Ap
Johnson
Congress
John F. Kennedy
House
Ways and Means Committee
Alrady