Word: deferred
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Dates: during 1980-1989
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...billion tax cut in this year's budget. But in the end the combination of continued strong inflation and higher federal spending ruled out any relief. Warned the President in his State of the Union message: "The urgency of the anti-inflation fight requires that we defer such tax reduction at this time." Thus the Administration's guns-plus-butter spending program is being paid for by still heavier tax loads. Says Republican Congressman Barber Conable: "That's the Carter strategy: to balance the bud get by tax up-creep." The President's skillfully crafted election...