ABC Evening News for Monday, Apr 30, 1973
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(Studio) Nixon discloses new tax reform proposal.
REPORTER: Howard K. Smith
(DC) Admin. wants simplified tax form, tax relief for elderly and alternative to tax-free municipal bonds. Federal government would subsidize municipalities that would issue bonds paying higher interest rate but with interest taxable. Tax credits would be given to parents with children in private schools, investment credits would be given for oil exploration and administration would establish minimum taxable income and eliminate some tax shelters. [Treasury Secretary George SHULTZ - says is hard to close off tax loopholes.]
REPORTER: Herbert Kaplow
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