Word: ullman
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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...
...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...
Jimmy Carter's presidency could be noted (or not) as much for what he is as for the legislation he gets passed. There are hints that the bills he proposes will be viewed with a harder congressional eye than generally directed at a new President. For instance, Al Ullman, the chairman of the Ways and Means Committee, is already suggesting that his committee might have to change the Carter ideas about...
...flip about it. I don't want to mislead anyone, but the work on it is well under way, and between now and Jan. 20 a lot of work will have been done with advisers, obviously, but also with people like Senator Russell Long and Congressman Al Ullman [respectively, chairman of the Senate Finance Committee and chairman of the House Ways and Means Committee]. I would guess that it would take several months of next year before we could come forward with specific proposals ready for a congressional hearing...