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Press Telegram in Long Beach, California

25 Oct 1974

Page 2

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Press Telegram October 25, 1974 Page 2 old newspaper archives

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Newspaper

Press Telegram

Location

Long Beach, California, United States of America

Date

Oct 25, 1974

Page

2

No hope seen for extra tax

Tulsa analysis reports House Speaker Carl Albert dismissing President Ford's five percent tax surcharge as a gimmick and unlikely to pass Congress. Albert warned the measure would not advance from committee or reach the floor in the form Ford described, arguing it would not affect the wealthy or the middle class as proposed.

MENTIONED IN THIS ARTICLE

Tulsa Okla House Carl Albert Ford Congress Albert D-Okla Oklahoma City Simon America
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Surtax debate dominates amid inflation and recession talk

New York AP report states Treasury Secretary William Simon defends a proposed 5 percent income tax surcharge on high earners and corporations to fund unemployment relief and capital investment credits. He warns inflation threatens more than a mild recession as Congress debates the measure. Canada sighted oil export cuts easing for U.S. buyers due to rising domestic demand and shrinking reserves.

MENTIONED IN THIS ARTICLE

New York Treasury William E. Simon Simon Financial World Washington Montebello Que Canada Donald Macdonald United States
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