CBS Evening News for Tuesday, Jan 04, 1977
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(Studio) President Ford sends essentially same tax cut bill to Congress that it rejected last session; almost no chance of passage seen by key Republicans
REPORTER: Roger Mudd
(DC) Details of tax plan noted, include individual and corporate tax cuts and rise in Social Security taxes. Treasury Secretary William Simon says bill aimed at relieving mid-income taxpayer. [SIMON - says reductions proposed because of Ford's belief Congress should periodically counteract growing burden of tax system. Says administration believes further stimulation of economy now is unwise and unnecessary.] Simon says tax cut would be put with fed. spending reduction in Ford's budget to be presented January 17. Attitude of Democrat major in Congress is to wait to see what Carter says with regard to nation's economy
REPORTER: Hal Walker
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