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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Sep 19, 1966
Page
6
The House Ways and Means Committee opens an executive session to draft a bill suspending two tax incentives for 16 months to slow inflation. FDIC urges insured banks to curb loans to businesses while lawmakers weigh exemptions for equipment, real estate, and small enterprises amid Viet Nam war pressures.
Atlantic City report quotes Abel criticizing the wage and tax credit policies of the Johnson administration. Abel argues inflation is fought by suspending investment tax credits and tempering personal income taxes, calling the price guideposts one sided against labor while noting current contracts in steel, aluminum, and fabrication largely follow guidelines.
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