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(Studio) House Ways and Means Committee okays tax reform bill. Provisions include: 1975 tax cuts contd.; tax credit increases; child care credit; incrd. retirement credit; decrd. deductions for United States citizens abroad and confidentiality with regard to tax returns. Tax revenues to be incrd. by $750 million. House fight expected.
REPORTER: Walter Cronkite
(DC) Representative Phil Landrum says he didn't care that his amendment would give Texas millionaire, H. Ross Perot, a tax refund of $15 million. Says individuals should get same break as corps. "Wall Street Journal" says Landrum amendment may be largest tax break in history for 1 person. "Journal" says that last fall, 12 members of committee received contributions from Perot. 6 members of Senator Finance Committee received Perot funds while they and House committee worked on Medicare contracts. Perot heads electronics empire which got $140 million worth of computer business from Medicare work. [Representative Abner MIKVA - sure Landrum amendment will be dropped.]
REPORTER: Roger Mudd
- Cronkite, Walter;
- Mudd, Roger
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