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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Aug 07, 1969
Page
4
President Nixon will unveil a revenue sharing plan on Friday providing roughly half a billion dollars, about one million per state, to aid state and local governments though officials warn it is a small start. They expect Congress to push for larger funds later as cities and states become more vocal claimants.
A Nixon administration official says tax reform may slow progress by shrinking the treasury. The House bill could raise about 7 billion by 1972 after 9 billion in cuts, risking deficits. Officials weigh deeper federal spending cuts if inflation persists.
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