NBC Evening News for Wednesday, Oct 19, 1977
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(Studio) gross national product for 3rd quarter noted; slow growth prompts administration official to say White House may now push for tax cut before next year Commerce Department reports steady slowing of economy since beginning of year
REPORTER: John Chancellor
(DC) Details with regard to year's slowing trend and its effects; retail sales have slowed and unemployment may go up, as it has in steel industry Treasury Secretary Blumenthal says early tax cut may be necessary if economy doesn't pick up as he anticipates. [BLUMENTHAL - thinks President will consider early tax cut if things don't pick up.] Carter wanted to wait and combine tax cut with tax reforms.
REPORTER: Irving R. Levine