PHASE II: Progress on Several Fronts

Thanks to laws that are already on the books, and because of the sheer power of his office, President Nixon has had virtually a free hand in setting strategy to revive the economy and retard inflation. But key sections of the plan, notably some stimulative tax cuts, still need the consent of Congress. Last week Nixon's legislative proposals moved measurably closer to reality. After three months of highly partisan debate, they still bore a remarkable resemblance to Nixon's original package.

A $15.8 billion tax-reduction bill passed a House-Senate conference vote, and will...

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