Word: relief
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Dates: during 1970-1979
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...request that Congress approve a 5% income tax surcharge on personal earnings above a certain amount?possibly $15,000 for families and $7,500 for single people?to help pay for federal emergency relief measures for the poor. The surcharge would raise about $2.5 billion in revenues...
...relief for the nation's low-income families...
...revealed some open disagreements between the President's political and economic advisers. Most notably, a number of economic aides sensibly favored an additional tax of 100 to 300 on each gallon of gasoline on the grounds that it would not only offset revenue losses caused by granting some tax relief to the poor, but above all, would also depress demand and lessen the nation's dependence upon overpriced, inflation-fueling foreign oil. But in the end, the President was swayed by the arguments of his political advisers. They warned that such a proposal would be poison at the ballot...
...proposal that Congress pass some kind of tax relief for low-income workers, possibly by raising the so-called low income allowance. That measure, which took effect in 1972, is aimed at eliminating taxes altogether for people below the poverty line. Now, a family of four can earn $4,300 and still pay no taxes. Under the proposed plan, the same family could earn $5,000 without being taxed. This would cost the Government about $1.5 billion...
Within the Administration, the major policy dispute focused on whether to call for a new gasoline tax, instead of an income tax surcharge, to make up revenue lost in the relief moves. The gas tax has been promoted by Simon and Federal Energy Administration Chief John Sawhill. An added tax of 100 per gal. could have raised about $10 billion a year, and much of this money would have been returned to low-income people through income tax rebates, which they would have collected after submitting their tax forms next year...