Search the Archive

Tax Reform Bill / Facets / Reaction #443784

NBC Evening News for Friday, Dec 19, 1969
View other clips in this broadcast →

Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws. For any such use, please visit NBC NEWS Archives XPRESS.

(Studio) Congress agrees on compromise tax reform bill.
REPORTER: Chet Huntley

(DC) Group finished work at 2:30 a.m. and reconvened this afternoon. Representative Wilbur Mills and Senator Russell Long are chief movers, but both hses. agreed on bill. Bill incls. 15% Social Security increase, and gradual increases in personal tax exemptions. By 1973, $9 billion year lost from revenues. Incls. oil depletion allowance decrd. to 22%, and increase in capital gains taxes. Hard for President Nixon to veto tax cuts so near election. President also opposes $21 billion Department of Health, Education and Welfare bill; $1,5 billion over what President wants. [Senator Fred HARRIS - says Department of Health, Education and Welfare and tax bill should be vetoed by President if he wants to, and we'll try to override veto.] [LONG - says Congress committee fiscally responsible. President would be wise to sign bill.]
REPORTER: John Chancellor

(DC) President not to comment on bill until he gets it. Press Secretary Ronald Ziegler renews President' threat to veto any expensive legislature President claims Congress looking at bills individually, without thinking of total budget and inflation.
REPORTER: Richard Valeriani

Chancellor, John;
Huntley, Chet;
Valeriani, Richard

Note to sponsor members: The Vanderbilt Television News Archive video player requires a modern operating system and browser to work properly. If you are experiencing playback problems, check the minimum requirements and adjust your setup accordingly. After adjustments, if you continue to experience problems, please contact us.

Welcome! Above is the abstract of the item that you're interested in viewing from the Vanderbilt Television News Archive's collection. You have three options if you'd like to view this item:

  • You may request a loan of this video by registering on our website and placing an order.
  • You may visit the Television News Archive on the Vanderbilt campus to view on-site from the Archive's collection.
  • If you are associated with a college or university, you may ask your library if they would like to become a sponsor, which would give students and faculty at your institution the ability to view items from our collection.

If you believe that you are associated with a sponsoring college or university and have received this message in error, please let us know.