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Fowler Sees No Large Cuts in LBJ Budget Plan
Secretary Henry Fowler told the Senate House Economic Committee that avoiding a tax increase by cutting spending or closing loopholes is unlikely. He said a $5 billion to $6 billion budget reduction is not expected and that loophole closures will await congressional action on the proposed July 1 tax hike. He warned that plugging loopholes would be long and difficult.
MENTIONED IN THIS ARTICLE
Washington
Secretary of the Treasury
Henry H. Fowler
Fowler
Senate
House Economic Committee
Treasury
Congress
Henry S. Reuss
Dwis