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Investment Credit May Return in Economic Stimulus Push
Washington AP report notes Congress could revive the 7 percent business investment credit against taxes if the economy weakens in the next two months. A stronger 10 percent version is proposed, with a 1 year sunset. Speaker Mills signals possible tax stimulus if second quarter underperforms. Social Security boost remains guaranteed for June. The credit’s history includes 1962 inception, 1966 suspension, 1967 restoration, and 1969 repeal.
MENTIONED IN THIS ARTICLE
Washington
Congress
Wilbur D. Mills
D-Ark
House
Means Committee
General Motors
Mills
John F. Kennedy