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Budget Plan #72032

ABC Evening News for Friday, May 08, 1981
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(Studio) House approval of President Reagan's budget plan yesterday recalled; concern in Senate over status of Kemp-Roth tax legislature and soc. "safety net" announced.
REPORTER: Frank Reynolds

(DC) Current status in Senate of President's proposed tax cut outlined. [Senator Ted STEVENS - notes role of interest rates and general economy situation on tax pkg.] [OMB director David STOCKMAN, Treasury Secretary Don. REGAN - comment.] Impact of Wall Street's criticism of Reagan's program mentioned.

(DC) [Representative Robert MICHEL - gives Reagan credit for House passage of budget plan.] [REAGAN - comments on Social Security cuts.] "Washington Post" article with regard to cuts in Social Security and other programs and White House response examined; admin. statement quoted on screen. Probable impact of administration cuts in Social Security benefits discussed.
REPORTER: Sam Donaldson

Donaldson, Sam;
Hume, Brit;
Reynolds, Frank

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