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Congress Unlikely To Take Up Tax Hike Until August
Washington AP reports Congress is unlikely to consider Johnsons proposed income tax surcharge until late summer. Federal Reserve Chair Martin urges a steeper rise if needed, while CEA Chair Ackley backs at least six percent. House Ways and Means delays, recesses start for July 4, with Social Security reform consuming calendar.
MENTIONED IN THIS ARTICLE
Congress
Washington
Johnson
William McChesney Martin Jr
Federal Reserve Board
Gardner Ackley
Council of Economic Advisers
Capitol Hill
House
Ways and Means Committee
Senate
Wilbur D. Mills
D-Ark
Ackley
House Economic Committee
William Proxmire
Dwis
Henry S. Reuss
D-Wis