Congress appears to be in no mood for election-year reforms
Early warning signals were flashing last week as Congress prepared to take up the Carter Administration's wide-ranging proposals for keeping the economy humming through the coming fiscal year. Congressional critics have begun to snipe at the President's tax program, even before they get their first formal briefing on the proposals this week from Treasury Secretary Michael Blumenthal. The package calls for $34 billion in tax cuts, reduced to $25 billion net by about $9 billion in new revenue-raising reforms. The legislators are delighted, even...
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