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Shapp pushes vast education and railroad investments
Governor Shapp promoted a $50 billion yearly education program to lift federal aid from 10 to 50 percent and erase local school taxes within seven to ten years, funded by a new tax surcharge and private investment. He also proposed a $13 billion railroad modernization financed by a six-year 5 percent surcharge on shippers, aiming to create up to 375,000 jobs and curb inflation through higher output and lower costs.
MENTIONED IN THIS ARTICLE
Shapp
Census Bureau
Internal Revenue Service
Health, Education and Welfare Department
von Shapp
U.S
General Electrics
Allis-Chalmers
Westinghouses
Congressional Budget Office
Pennsylvania
Business Conditions Digest
U.S. Commerce Department
Federal Reserve Board