ABC Evening News for Tuesday, Jul 20, 1976
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(Studio) Senator passes amendment to keep present withholding rates through end of 1977. New hearings held on tax reform bill.
REPORTER: Harry Reasoner
(DC) [Senator Russell LONG - says tax reform is in eyes of beholder.] Senator Edward Kennedy notes tax exemptions given to different companies Companies recing. exemptions include: Chrysler Corp., Superior Oil Company, American Investors Group, Incorporated, Pittsburgh Plate Glass Company, Boise Cascade Corp., Natomas Corp., Tenneco, I.U. International Corp., Hanna Mining Company, Coca Cola Company, Honeywell, Incorporated, G.E. Company, Westinghse. Electric Corp., Union Oil Company, Pacific Gas and Electric Company, and Investors Diversified Services. Mondale sponsored amendment to benefit IDS. [Senator Robert DOLE - comments on Kennedy's criticism of committee ] Looks like little changes will be made in bill although committee feels criticism.
REPORTER: Dan Cordtz
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