Proxmire Urges LBJ to Reverse Tax Stand: Business Leaders Foresee Expansion
YEAR-END FRIVOLITYÛÓThe final work day of the year	celebrated with showers of torn paper and calendars,</br></br>YEAR-END FRIVOLITYÛÓThe final work day of the year	celebrated with showers of torn paper and calendars, for employes in San FranciscoÛªs financial district was	This sports car seems to have been a prime target.</br></br>United Press International The chairman of the House-Senate Economic Committee urged President Johnson yesterday to drop plans for a tax increase in 1968 and battle inflation with a tight Federal budget and wage-price guidelines.</br></br>Sen. William Proxmire (D Wis.), said an income tax in crease next year could be a se rious mistake and might bur the economy. He said Con gross was ÛÏdead rightÛ in re fusing to act on the Presi</br></br>In a statement, Proxmire said a 1967 tax increase would have been an ÛÏeconomic blunder,Û further restricting operations of the industrial plants, which were at only 84 per cent of capacity. Hundreds and thousands of jobs would have been eliminated, the Senator said, and corporate lax increases would be passed along to consumers.