Word: cuttingly
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Dates: during 1960-1969
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Failed Test. Unless the Senate bill is drastically revised in a House-Senate conference, it will provide a tax cut for individual taxpayers of $4 billion next year, minus whatever new revenue comes from tax reforms. Among other Christmas tree ornaments: a 15% boost in Social Security benefits, half again the amount the Administration had approved and without any increase in rates, plus new minimum monthly payments of $100 for single persons and $150 for couples. The new minimums, up from an intolerably low $55 and $82.50, would be paid by deductions from earnings up to $12,000 a year...
...Senate did make a modest start on tax reform, and further amendments were held over for voting this week. The 27½% oil depletion allowance, which has stood as a symbol of tax privilege since the Administration of Calvin Coolidge, was reduced to 23% in the Senate, a kinder cut than the House version, which put the allowance at 20%. The difference -which amounts to about $100 million in tax revenues for each percentage point-will be resolved in conference. But neither the House nor the Senate ventured to restrict the oilmen's privilege to deduct for depletion long...
Congressional leaders are convinced that they can easily pass the tax cut by the two-thirds majority required to override any presidential veto. As a further complication, the bill contains an extension to next July 1 of the 5% surcharge that Nixon has requested as an anti-inflationary measure. Thus the congressional Democrats have the best of all political-if not economic-worlds. If Nixon signs the bill, they can claim credit for tax reduction and blame the Administration for inflation. If he vetoes it, they can blame him for both inflation and high taxes. Last week Mills promised that...
...convinced. With its 26 study groups, eight task forces and diffuse agenda, the massive meeting lacked coherence. The urgency and anger felt by the representatives of the poor often seemed in danger of drowning in a sea of professional expertise. Yet out of the potential chaos came a clear-cut demand to end hunger now, which the Administration and Congress should find difficult to ignore...
Vast Gulf. In developing these priorities, the delegates demonstrated an amazing ability to cut through rhetoric to cruel reality: there are an estimated 15 million underfed Americans. In fact, the consensus statement seemed almost a victory over the conference format itself, which was encumbered with such panel topics as "Nutrition Teaching in Elementary and High Schools," and "Adults in an Affluent Society...