ABC Evening News for Thursday, Nov 18, 1976
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(Studio) Federal Reserve Bd. chairperson Arthur Burns expects economy to improve so he's against tax cut for now. gross national product for 3rd quarter of year increases by 3.8%; less than original estimate. Unemployment reported higher; industry product lower. Little action expected from Ford lame duck administration
REPORTER: Harry Reasoner
(White House) No new economy moves to occur till new President and Congress come in in January [Chairperson Council Econ. Advisers Alan GREENSPAN - says there's no evidence of deterioration of economy or of recession. Admits pause in econ. growth lasting longer than expected. Rate of growth to be fairly solid in 1977.] By December 15, President and advisers may decide economy needs stimulation. Would come in form of revised federal budget, either by incring. proposed income tax cut or more tax breaks to industry
REPORTER: Tom Jarriel
(Studio) Ford tax cut policies reviewed. President-elect Jimmy Carter's tax proposals preferred by many Democrats
REPORTER: Barbara Walters
(Capitol Hill) Some Congmen. unsure if economy will need massive transfusion of money by January but are braced for Carter action, especially tax cut. [Vice President-elect Walter MONDALE - says Carter administration to be very concerned with regard to inflation, healthy economy growth.] Congress most likely will pass tax cut request if Carter makes request.
REPORTER: Don Farmer
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