Business: Energy Pushes Back Tax Reform

Loophole closing gives way to deeper cuts

While continuing to shift the scenery about backstage, the Carter Administration last week announced another delay in raising the curtain on its anxiously awaited tax-reform program. The news came from a weary Treasury Secretary W. Michael Blumenthal, after a grueling five-hour White House session on tax options in which the President and his top economic aides failed to resolve a number of key issues.

Completion of the package, which was once supposed to go to Congress by Oct. 6, has already been postponed several times, and Blumenthal now says that at least one more meeting with...

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!