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Tax indexing plan gains GOP backing amid inflation debate
A coast to coast GOP tour with leaders including Gerald Ford and Ronald Reagan promotes tax indexing to raise personal exemptions and the standard deduction yearly. Sen. Bob Dole backs the plan as Republicans seek momentum after failing to pass the Roth Kemp tax cut. He argues inflation reduces families’ purchasing power while tax burdens rise.
MENTIONED IN THIS ARTICLE
Gerald Ford
California
Ronald Reagan
Sen
Bob Dole
Kansas