Word: ullman
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Dates: during 1970-1979
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...Satisfaction. But Carter's bill ran into a rambunctious revisionist in the person of Oregon Democrat Al Ullman, the powerful chairman of the Ways and Means Committee. "The Administration's package didn't really satisfy anyone," said Ullman, who began drafting his own plan. Ullman's attitude was widely shared by a coalition of Democrats and Republicans on the committee who felt that even Carter's meager proposal was too generous toward big businessmen and would not sufficiently cope with the unemployment problem. Instead they preferred a measure aimed directly at creating more jobs...
That, however, will not end the tinkering. When Ways and Means Chairman Al Ullman this week presents to the committee his own proposals for what would eventually be called the Tax Reduction Act of 1977, his draft is likely to contain a major revision of the President's plans to lower business taxes. Carter wants to offer companies a choice: they could reduce their income taxes by an amount equal to 4% of the Social Security taxes they pay on each worker, or to 12% of the money they spend on new plant and equipment. Many Congressmen want...
Publicly, Treasury Secretary Michael Blumenthal calls that proposal "arbitrary and capricious." Privately, a White House aide fumes: "You try to put together the best plan you can, and then Al Ullman goes off the deep end with some crazy idea of his own." Carter's men argue that the proposal would unfairly benefit employers who are going to increase their payrolls anyway, tax break or no, and would encourage the wrong kind of hiring-since a company could cut its taxes just as much by employing a part-time worker at $4,200 as it could by adding...
...Committee voted to increase the $1.7 billion for jobs programs in fiscal 1977 to $3.5 billion, and under intense debate were Carter's proposed business tax changes, which offer an option of a 12% investment tax credit or a credit equal to 4% of Social Security taxes. Al Ullman, chairman of the House Ways and Means Committee, prefers a tax credit equal to 25% of the wages of new employees, up to $4,200 per worker. Presumably this would induce businesses to hire more people, but it would not encourage capital spending, which continues...
...majority leader of the Senate-Favorite Robert Byrd and Hubert Humphrey -and the retiring leader, Mike Mansfield, plus the influential Edmund Muskie. Thomas ("Tip") O'Neill, certain to be House Speaker, was there with four key chairmen: Appropriations' George H. Mahon, Ways and Means' Al Ullman, Budget's Brock Adams and James J. Delaney, probable new Rules head...