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Oil Depletion Allowance / Nixon #205672

CBS Evening News for Wednesday, Sep 24, 1969
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(Studio) President Nixon has been accused of taking up both sides over oil depletion allowance.
REPORTER: Harry Reasoner

(DC) White House says President favors 27 1/2% allowance, but won't fight to keep it. Oil men contributed to Presidential campaign so he'd fight for full allowance. House wants 20%. Secretary Treasury David Kennedy says 20% acceptable. President aide Harry Dent wrote letter to complaining oil man and said Kennedy's testimony would be corrected. Press Secretary Ronald Ziegler says Kennedy's remarks not intended to mean approval of reduction, just acceptance. Tax break now saves oilmen $10 billion year
REPORTER: Dan Rather

Reporter(s):
Rather, Dan;
Reasoner, Harry
Duration:
00:01:10

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