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Economic Issues Status Report
Washington reports Congress rushes to finish a tax cut bill before a two week recess. The plan features a 2 percent rebate on 1974 income up to 1000 dollars, with most of 8.1 billion refunds going to families under 18500 dollars. Withholding changes target the under 810,000 income class. Senate and House reconcile a package likely over 30 billion in cuts this year, with refunds by May or June. Public employment funds 310,000 jobs through mid 1976 amid boondoggle criticisms. Energy, housing, credit, and farm measures accompany the bill as debates shift on deregulation and mortgage subsidies.
MENTIONED IN THIS ARTICLE
Washington
Congress
Ford
House
Guy Vander Jagt
Rmich
Republican Congressional Campaign Committee
Senate
Finance Committee
Afl-Cio
George Meany
Banking Committee