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(Studio) Carter economy plan runs into trouble. House Budget Committee votes tentatively to double amount for jobs and Federal Reserve Board chairperson Arthur Burns joins members of House Banking Committee in criticism of tax rebate.
REPORTER: Walter Cronkite
(DC) Burns expresses optimism with regard to continued recovery for year and support of Carter growth and employment targets; is asked with regard to economy stimulation package Burns says President used moderation and prudence in drawing up package, but disagrees with need for stimulation now. [BURNS - cites objections to tax rebate.] [Committee chairperson Representative Henry REUSS - notes agreement within room.] Republicans say there shouldn't be rebate and Democrats say more needed. Long debate on issue expected.
REPORTER: George Herman
- Cronkite, Walter;
- Herman, George
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