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(Studio) House Ways and Means Committee action on capital gains tax on home sales profits detailed; difference in tax bill being formed by Congress and that presented by President Carter noted. Report on Republican representative whose tax bill is getting support from both ptys.
REPORTER: Frank Reynolds
(Studio) Background report on Jack Kemp, from Buffalo, New York, given. His appearance and economy philosophy compared to John F. Kennedy. [KEMP - talks to telephone caller.] Kemp's sponsorship of tax cut bill with Senator William Roth noted. [KEMP - discusses tax cut bill.] Kemp's career as pro football player, mainly with AFL's Buffalo Bills noted; films shown. Representative's rise in Republican outlined. Econs.' views of his proposed tax bill given. [KEMP - discusses potential disadvantages to tax cut plan. Gives example of personal output in return for reward, citing New York Yankees baseball player Reggie Jackson.] Kemp's bill noted as official tax plan of Republican and of concern to Democrats
REPORTER: Barbara Walters
- Reynolds, Frank;
- Walters, Barbara
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