Date: December 18, 1975
Subject: Revenue Adjustment Act Veto
Description: Passage, over the President's Dec. 17 veto, of the bill to cut federal taxes approximately $8.4 billion in 1976 by extending 1975 tax reductions through June 30, 1976. This is another form of tax rebate without a similar reduction in federal spending, thus increasing the federal deficit and generating inflationary pressures.
Result: Veto Sustained, 267-157
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