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Tax Bill / Reform #246722

CBS Evening News for Wednesday, Jun 30, 1976
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(Studio) President Ford signs stopgag bill to prevent tax withholding rates from rising Thursday
REPORTER: Walter Cronkite

(DC) 1976 tax bill provides for lower taxes for 62 companies and 3 trade assns. Provisions introduced in Senate Finance Committee Mobil Oil helped by bill. Oil companies could save estimated tax reduction of $40 million a year United Airlines received $300 million tax benefit for airlines and utilities. Florida E. Coast and Kansas City Southern railroads win tax relief of under $5 million yr. [Senator William PROXMIRE - says companies use their contacts to get tax law loopholes.] [Chairperson Senator Finance Committee Russell LONG - says all people with problems are entitled to be heard.]
REPORTER: Robert Schakne

Cronkite, Walter;
Schakne, Robert

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