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(Studio) Senator debates Tax Reform Bill.
REPORTER: Walter Cronkite
(DC) Senator Hugh Scott calls bill a mess, due to "cat and dog" amendments tacked on. Senator Gordon Allott against bill. Sponsor, Senator Russell Long, frustrated at many amendments. Says he'll try to dump them later Passage expected Wed 1 amendment allows coal mine operators to write off cost of safety equipment in 5 years, rather than 10. Another lowers age of recing. Social Security from 62 to 60 provided President Nixon sees it as desirable to expand consumer purchasing power. Senators Ed Kennedy and James Pearson's amendment allowing up to $25 tax credit for political contributions in any election was tabled 50-45. Long criticized it.
REPORTER: Roger Mudd
- Cronkite, Walter;
- Mudd, Roger
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