Word: tax-cutting
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...More Fitting Act." Next only to civil rights in importance, Johnson said, was the Kennedy Administration's tax-cut bill: "No act of ours could more fittingly continue the work of President Kennedy than the earliest passage of the tax bill for which he fought all this long year. This is a bill designed to increase our national income and our federal revenues, and to provide insurance against recession. That bill, if passed without delay, means more security for those now working and more jobs for those now without them, and more incentive for our economy...
...last week, brokers were generally bullish about many drug producers, airlines and electronics companies, and down on hotel chains, real estate firms, savings and loan associations. Perhaps it is time to be wary when most Wall Streeters start talking alike, and perhaps the market will take a beating if tax-cut hopes fail. But there is a consensus on Wall Street that the bull is strong and there is still plenty of margin...
...Mill Stream. I want to say I am delighted." Kennedy meant what he said. As chairman of the House Ways and Means Committee, Arkansas Democrat Mills has powered three of the President's principal pieces of legislation through the House: the tax and trade bills of 1962 and the tax-cut bill now before the Senate Finance Committee...
...Rejected, by an ll-to-4 vote in the Senate Finance Committee, a motion by Illinois Democrat Paul Douglas calling for a speedup in committee hearings on the Administration's $11.1 billion tax-cut bill. Douglas, who asked that hearings begin this week and be limited to four weeks, cried that the motion's defeat was a "crushing blow" to the tax measure. Other Senators thought that the motion had been no more to begin with than an ill-conceived effort to pressure Finance Chairman Harry Byrd and an affront to the chairman's traditional prerogative...
...then why was it necessary for the President to drum up popular support for it? The answer is that the bill is in trouble. And if there was more than a touch of demagoguery in Kennedy's 21-minute talk, it was rooted in the worry that his tax-cut measure would be defeated or rendered completely worthless. "There are those who, for one reason or another, hope to delay this bill," said the President darkly, "or to water down its effects...