The Congress: Two-Thirds of a Loaf

For almost a month, legislation to extend the income tax surcharge has been stalled in the Senate. The delay has produced frustration on the part of Republicans, who have been pushing for passage of the Administration's key anti-inflation program, and satisfaction on the part of Democrats, who were determined to use the bill as a lever to bring about tax reform. The struggle has also caused confusion for employers, who have been puzzled about how much tax to withhold from paychecks, and uncertainty throughout the already troubled economy (see BUSINESS).

Last week this deadlock was broken by a sudden Senate...

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

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!