State of Business: Spur to Spending

Hoping to stimulate businessmen to invest boldly in more productive plants and machines, the Kennedy Administration last week tried a second time to pass a controversial piece of legislation. The powerful House Ways and Means Committee approved a Kennedy-backed plan to give every businessman a tax credit of up to 8% of any amount that he invests in new equipment; the credit would be in addition to present depreciation schedules, which permit businessmen to deduct the costs of plant and equipment from their tax bills over a period of years. Economists...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!