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Economy / No Tax Rebate #48131

ABC Evening News for Thursday, Apr 14, 1977
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(Studio) President Carter withdraws tax rebate proposal.
REPORTER: Barbara Walters

(DC) Carter says review of economy indicators shows rebate not needed. [CARTER - says mad or factor was rise in retail sales. He and advisers don't believe there's need for rebate now.] President concedes pols. involved, especially congress opposition to water project cuts, but says econ. was main factor.
REPORTER: David Garcia

(Studio) Tax rebate had passed House, but Senator bill had opposition and was losing support, so not much disappointment felt with regard to withdrawal.
REPORTER: Harry Reasoner

(Baton Rouge, Louisiana) House tax committee chairperson Al Ullman is in Oregon when learning news. [ULLMAN - says some will feel bad that they went with program, to have it withdrawn, but he's not bothered.] Senate tax chief Russell Long is at farm near Baton Rouge, Louisiana when White House calls to tell of withdrawal. Long doesn't totally agree with regard to economy recovery optimism. [LONG - isn't as optimistic as Carter with regard to recovery. Says Senator could have passed bill, if President had gotten into fight.] Other parts of tax package may now be in jeopardy.
REPORTER: Don Farmer

(Studio) Reasons for withdrawal of rebate noted.
REPORTER: Barbara Walters

(DC) Employment, Wholesale Price Index and retail sales recent rises convinced OMB director Bert Lance and Treasury Secretary Michael Blumenthal to campaign to drop rebate; rebate's originator, economy adviser Charles Schultze had lost enthusiasm for it; so on their advice, Carter drops rebate.
REPORTER: Dan Cordtz

Reporter(s):
Cordtz, Dan;
Farmer, Don;
Garcia, David;
Reasoner, Harry;
Walters, Barbara
Duration:
00:06:00

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