The drive to cut taxes in 1976 is be coming an irresistible force that not even a presidential veto could stop. At minimum, Congressmen facing re-election campaigns at a time when unemployment will still be high are certain to extend the $8 billion reduction in taxes on corporate and personal income enacted for 1975. All 20 members of Congress's Joint Economic Committee—liberal Democrats and conservative Republicans alike—have endorsed the idea; a tax-reform bill is due out of the House Ways and Means Committee by Oct. 28. Last week even President Ford apparently climbed aboard the bandwagon. He said that...
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