Nation: Money for the Middle Class

The House rejects the President and votes a tax cut of its own

"What is the Administration proposal?" House Speaker Tip O'Neill inquired somewhat rhetorically last week.

"I don't know what it is. Does anybody know what it is?"

The subject of O'Neill's derision was that basic concern of practically every American: taxes. President Carter last winter proposed a tax cut of $24.5 billion to stimulate the economy, as well as a series of controversial "reforms" highlighted by a levy drying up the "three-martini lunch" as a business deduction. But as the economy recovered, the...

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