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Tax Cut Of 4 Billion Viewed As Major Reform
President Johnson submits to Congress a plan to cut excise taxes by almost 4 billion dollars. The proposal grants a July 1 repeal of many excises, a midyear round of reductions, and a long term savings path through 1970. He argues these cuts won t hurt defense spending and will spur price stability and growth. The plan also reshapes taxes on cars, consumer goods, manufacturers and services with phased timelines and new highway funding provisions.
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Washington
Johnson
Congress
Free World
Viet Nam
Highway Trust Fund