Nixon Budget Proposes Tightening Steps On Fiscal 1974
The Nixon administration seeks a 1974 budget of 268.7 billion dollars with about a 12 billion dollar deficit. Economists differ, with some saying the plan doesn't go far enough to curb inflation while others praise the move toward restraint and reduced government spending.
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Nixon Budget Proposes Two Tax Breaks for Parents and Self Employed
President Nixon outlines a budget with two $300 million tax breaks not raising taxes. A credit for parents of pupils in nonpublic schools and a higher deductible contribution for self employed retirement plans. Income limits: $18,000 AGI under Nixon plan. $25,000 under pending bill.
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