Word: ribicoffs
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...Senate voted wisely on Tuesday to defeat Senator Ribicoff's amendment to the Administration tax bill. The amendment, which enjoyed strong liberal support, would have granted $325 credit to anyone paying college tuition. It would not have affected the amount of revenue raised for the Vietnam war during 1966 and 1967, since the credit would have applied first to returns submitted...
...certainly desirable. And the $1 billion in tax revenue lost to the government through this amendment would have gone into paying for tuition, textbooks and supplies. But too much of the money would have been wasted on families in middle income groups who do not really need it. Senator Ribicoff has argued that the middle income groups deserve relief because they are ineligible for the scholarships and other financial aid which the poorer groups receive. But only a small percentage of these lower income groups are able to secure such funds. And while the middle income family may be forced...
James A. Dorsch, Ribicoff's legislative assistant, said yesterday that the vote on the bill would be close. "This will be a real cliffhanger. In one count of the votes we get 44-45," he added, and in another...
...amendment is the same as the one Ribicoff proposed for the 1964 tax reduction bill. The earlier amendment was defeated 48-45. The present amendment was rejected by the Senate Finance Committee 7-4, but was introduced again on the floor of the Senate...
...cost of the tax credit to the treasury has been estimated at $ 1 billion a year. Ribicoff pointed out in a speech Friday that since the credit would first be available on the returns submitted in 1968, it would not affect the amount of revenue raised for the Vietnam during...