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Wage-Price Freeze / Tax Cuts #459789

NBC Evening News for Wednesday, Sep 01, 1971
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(Studio) President Nixon acts to freeze pay raises for armed forces, government employees at least 6 mos.; former President Lyndon B. Johnson's economy adviser Arthur M. Okun says wages shouldn't increase more than 5% per year, prices no more than 1-2% after freeze.
REPORTER: John Chancellor

(DC) [OKUN - says Nixon welfare reform program 1st casualty of proposed tax cuts.]
REPORTER: No reporter given

(Studio) New economic policy has resulted in postponement of revenue sharing, welfare reform programs.
REPORTER: John Chancellor

(DC) [Department of Health, Education and Welfare Secretary Elliot L. RICHARDSON - says welfare reform not postponed in favor of tax cuts because Congress delays would have held up welfare reform anyway; in response to reporter's questions, says welfare reform still important, starting date for it just moved back; President Nixon still wants reform enacted this year]
REPORTER: Ron Nessen

(DC) Doubtful welfare reform legislature will pass Congress this year; Congress expected to approve tax relief for poor.
REPORTER: Paul Duke

(Studio) Chester, Pennsylvania, church puts up message, "The wages of sin were not frozen!"
REPORTER: John Chancellor

Reporter(s):
Chancellor, John;
Duke, Paul;
Nessen, Ron
Duration:
00:04:50

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