Ford Defense of inflation plan faces critics in Philadelphia
President Ford promoted a five percent surcharge plan for mid and upper incomes while defending budget cuts to shift funds to homebuilding. He argued the levy would not curb purchasing power and urged voluntary cooperation, noting there is no recession yet. He criticized violence over busing and outlined energy program steps and foreign policy openness with possible talks with Brezhnev.
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Ford surtax plan draws mixed reviews in Congress
Critics from both parties say the 5 percent surtax on corporate incomes and higher earners is too weak to curb inflation. Senate leaders urge raising income thresholds. others call for stronger measures and broader tax reform amid hearings on unemployment and housing aid.
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