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Tax Cut Urged By Republicans In Wake Of Kennedy Plans
Republicans pressed for an immediate tax cut to stimulate business replacing the administration revenue bill. Democrats warned against the move as the White House denied plans for a quick cut while Treasury Dillon voiced a broader rate reduction to be proposed in 1963. Senators Morton and Carlson urged delaying new tax action until a forthcoming proposal, while Gore and Galbraith cautioned against a rapid cut amid stock market volatility.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Kennedy
Congress
White House
Pierre Salinger
Thruston B. Morton
Rky
Frank Carlson
Senate
Senate Finance Committee
Morton
Secretary of the Treasury
Douglas Dillon
Dillon
Carlson
Albert Gore
D-Tenn
J. Kenneth Galbraith
Galbraith
India
New York Daily News
Council of Economic Advisers
Andrew Hatcher
Walter Heller
Council
Theodore Sorensen
Secreary
Labor
Arthur J. Goldberg
West Point
U. S. Military Academy