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Congress / Farm Bill / Voter Attitudes / Social Security Tax Cut #257660

CBS Evening News for Tuesday, Apr 04, 1978
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(Studio) Congress conference committee approval of farm bill and administration promise to veto it if passed by Congress reported Details of bill and reasons for administration position stated. Return of Congmen. from recess and talking to constituents noted; Republican hopes to use voters' attitudes in November elecs. reported.
REPORTER: Walter Cronkite

(DC) Voters' reported anger with regard to cost of living increases and higher taxes described. Democrats' concerns with regard to effect of anger on November elecs. and House Democrats' possible formal request to Budget and Ways and Means Cmtes. to roll back Social Security tax increase outlined. Republican reaction to constituent concerns about inflation and taxes stated. President Carter's attitude toward Democrat-controlled Congress, which hasn't passed his energy and tax cut plans and has passed farm bill in Senate that he opposes, cited. Some voter opposition to Canal treaty mentioned. Representative William Frenzel's statement re: voter attitudes quoted.
REPORTER: Phil Jones

(Studio) House Budget Committee vote for cut in Social Security taxes next year, as proposed by chairperson Robert Giaimo, reported; plan would include smaller income tax cut than President Carter requested. Congress approval of higher Social Security taxes to help failing system noted; report is on unpopularity of this move.
REPORTER: Walter Cronkite

(Chicago, Illinois) Report on complaints of workers with regard to increase in Social Security taxes. [USW spokesperson Jim BALANOFF - says workers see check eaten up by taxes and are angry.] Employers' reaction to higher payroll taxes cited. [Illinois Chamber of Commerce spokesperson Bill STOWE - says increase for employers will be passed on to consumer in higher prices.] Economists' view that higher payroll taxes may decrease number of new jobs stated. [Harris Bank economy Herbert NEIL - notes possible effect of additional costs from incrd. taxes on employment decisions.] Congress move to roll back Social Security taxes, lead by Representative Abner Mikva, cited. [MIKVA - says Social Security is regressive tax and wants to reduce it and pay for system from more progressive taxes.] Admin. and business opposition to using general revenues now to permit rollback noted. [Prudential Ins. Company chairperson Don MacNAUGHTON - says Congress was courageous in passing increases last year and ought to stick with decision.] Uncertainty with regard to rollback mentioned.
REPORTER: Bob Faw

Reporter(s):
Cronkite, Walter;
Faw, Bob;
Jones, Phil
Duration:
00:05:10

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