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Federal excise taxes cut in Johnson plan
President Johnson signed a 4.7 billion tax cut bill ending many federal nuisance excises on items like jewelry lipstick handbags and suitcases with half of the reductions retroactive to May 15 and rest phased in. Cars and air conditioners see early refunds and expected price relief in coming years.
MENTIONED IN THIS ARTICLE
Washington
Johnson
White House
Congress
Russell Long
D-La
John Byrnes
R-Wis
John J. Williams
R-Del
Everett Dirksen
R-Ill
Wilbur Mills
D-Ark
Clinton Anderson
D-N.m
George Smathers
D-Fla