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Johnson Signals Larger Tax Hike Needed to Trim Deficit
President Johnson indicated a possible increase in the income tax surcharge beyond 6 percent, citing rising Vietnam costs and a growing federal deficit which may reach 24 to 25 billion dollars. Officials expect any raise to be higher than the original proposal, with business groups potentially bearing more of the burden.
MENTIONED IN THIS ARTICLE
Washington
Vietnam
Treasury
Henry H. Fowler
Congress
Johnson
State of the Union