Date: June 30, 1969
Subject: Surtax Extention/Spending Increases
Description: Passage of the bill extending the surtax at 10 percent through Dec. 31 and at 5 percent through June 30, 1970, repealing the 7 percent investment credit, postponing reductions in certain excise taxes and providing a low-income allowance to ensure that poor families paid no income taxes. This was the Nixon administration's package of tax increases, designed to fight inflation and give tax relief to the poor.
Result: Bill Passed, 210-205
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