Senate Finance panel opens tax-cut hearings

The Senate Finance Committee opened hearings on the tax cut issue Wendesday, with chairman Russell Long (D) of Louisiana saying a majority of Democrats appear to favor enactment of a cut now. Republicans on the committee also pressed for a cut this year, backing Ronald Reagan's proposal for a 10 percent income tax reduction, the first of three such cuts, and faster depreciatin allowances for business.

Secretary G. William Miller repeated his position Wednesday that enacting a tax cut during the election period would result in bad legislation which could reignite inflation and interfere with recovery from the recession.

You've read  of  free articles. Subscribe to continue.
QR Code to Senate Finance panel opens tax-cut hearings
Read this article in
https://www.csmonitor.com/1980/0724/072427.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe