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Carter / No Tax Rebate / Energy Plan #251464

CBS Evening News for Thursday, Apr 14, 1977
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(Studio) President Carter withdraws tax rebate plan, acknowledging action both econ. and political
REPORTER: Walter Cronkite

(DC) [CARTER - cites reasons for rebate withdrawal; says it's not needed to stimulate economy] Econ. advisers are asked if this will damage admin.'s credibility. [Charles SCHULTZE - says a measure of credibility is to absorb and adjust to reality.] Carter to save political leverage, which would have to have been used to get rebate, to push energy program.
REPORTER: Bob Schieffer

(DC) Bus. pleased, labor officially silent, with regard to withdrawal, but some labor sources indicate displeasure privately. Senator Edmund Muskie opposes withdrawal and administration's econs. [House Ways and Means Committee chairperson Al ULLMAN - says President knew he had trouble with Senator and didn't want to make deal re: water projects.] Senate Hubert Humphrey's reaction noted. [National Association of Mfrs. spokesperson Ned SPRAGUE - says move will help business investments in mos. to come. Predictions, contrary to administration's, of Harvard economy Otto Eckstein and business forecasting company, Data Resources, noted.
REPORTER: George Herman

(Studio) Selected group gets briefing on energy plan.
REPORTER: Walter Cronkite

(DC) Some indications of plan details noted. Oklahoma Governor David Boren says there are no incentives to produce oil. [BOREN - says without modification in that area, he'll oppose plan.] [Illinois Governor James THOMPSON - cites possible adverse effects of gasoline tax.] [Newark, New Jersey Mayor Kenneth GIBSON - notes more effects of gasoline tax.] Some economists say consumers won't like plan either.
REPORTER: Robert Pierpoint

Cronkite, Walter;
Herman, George;
Pierpoint, Robert;
Schieffer, Bob

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