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Economy / Taxes / Stock Market Report #257799

CBS Evening News for Friday, May 12, 1978
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(Studio) Carter turn around in $25 billion tax cut reported Econ. conditions blamed.
REPORTER: Roger Mudd

(DC) April 25, 1978 film shown. [CARTER - says $25 billion tax cut not inflationary. Elaborates.] Stance change reported by economy adviser Chas. Schultze. [SCHULTZE - blames inflation, and increase in employment.] [Representative Al ULLMAN - still favors $15 billion cut; lower than President proposes.] $50 tax rebate change last year recalled. Commerce Secretary Juanita Kreps quoted with regard to waffling in tax cut. Possibility Kreps uninformed with regard to present administration stance considered.
REPORTER: Bob Schieffer

(Studio) Wall Street said to receive Carter tax cut announcement warmly. Stk. Mkt. Report given.
REPORTER: Roger Mudd

Mudd, Roger;
Schieffer, Bob

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