POLICY: Redoing Carter's Package

Having designed a program of tax cuts and spending increases to speed up the U.S. economy, Jimmy Carter must now sell his creation to his fellow Democrats who control Congress—and already they are forcing some changes. The first, but probably not the last: a recasting of the President's now celebrated $50-for-everybody tax-rebate plan so that low-income people will get more than that, and the well-off will get nothing.

That change reflects a deep skepticism on Capitol Hill that the rebate plan will pep up demand enough to cut quickly into unemployment. On the tax-writing House Ways and Means Committee, Barber...

Want the full story?

Subscribe Now


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!