Word: midyears
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...cannot quickly build support for its unorthodox economic ideas, then Ronald Reagan may fail his central domestic test. Stockman, with his knack for hyperbole, has warned of "incalculable erosion of G.O.P. momentum, unity and public confidence," if the Reagan program is not well on its way to enactment by midyear. There is personal urgency as well. Circumstances and Stockman's own aggressive zeal have made him the most visible and influential of the President's economic policymakers. Though Stockman has won praise from many members of Congress, controversy is beginning to build...
Harold Holzer, assistant head tutor in charge of senior theses in Economics, said yesterday he has "heard no major complaints, other than a lot of negative reaction to being graded at midyear...
President Carter will send to Congress this week his midyear economic review, and the reading will be glum. As late as March, the Administration was gamely forecasting a 1980 budget deficit of no more than $36 billion to $38 billion and a 1981 surplus of $16.5 billion. But with unemployment soaring and tax receipts slumping, those optimistic targets now lie hopelessly beyond reach. As a result, the 1980 deficit is currently projected to be $60 billion, followed by at least another $27 billion in red ink next year...
...stimulate the economy. Plans for a 1981 tax cut, for weeks the worst-kept secret in Washington, finally began leaking out. Though its size and shape are unknown, officials have said that the President could well announce a tax reduction as early as July, at the time of the midyear budget review. The tax cut could take place next...
...season for income tax refunds. Early-bird filers are being rewarded these days by the arrival of pretty, green U.S. Treasury checks in the usual sea of junk mail. This year the pleasure is unusually exquisite: more people than ever are getting refunds. By midyear an estimated 75% of U.S. taxpayers will receive an average of $610 back from Uncle Sam. This is up from last year's $510 rebate. Reason: each personal exemption is now worth $1,000, up from...