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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Dec 26, 1955
Page
6
The nation faces a potential record 400-billion-dollar annual output with rising production, pay, and profits. Administrations aides forecast continued prosperity through 1956 amid strong consumer demand, credit use, and possible inflation risks.
Washington reports influential Ways and Means members see a possible individual income tax cut next year but urge delaying action until the government’s spending situation is clearer. Rep. Reed says a strong possibility exists for trimming rates, while Rep. Mills doubts cuts before 1957 and prioritizes reducing the national debt.
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