Taxes: The Relief and Reform Bill

Committed to prompt extension of the 10% income tax surcharge. Senate Finance Committee Chairman Russell Long promised the Nixon Administration last summer that he would do everything he could to get it through. But Long's fellow Democrats were determined to bargain the surtax for tax reform, and the Louisianian could keep his promise to the President only by making another to them: in return for their votes on the surtax, he agreed to complete action on the House-passed reform bill and get it to the Senate floor by Oct. 31.

Last week Long kept his pledge with only hours...

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!