Senate Debates Tax Cut, House to Get Rights Bill: Opponents Clash ...
The Senate opened debate on the AdministrationÛªs $11.6-billion tax-reduction bill yesterday with, a warning from opponents of possible inflation and a plea from supporters that the bill be passed quickly to avert a recession.</br></br>Chairman Harry F. Byrd (D-Va.) of the Finance Committee, an announced foe of the'bill, told the Senate nothing would please him more than to vote for a tax cut but that he could not support one that risked ÛÏmassive debt and inflation.Û</br></br>Sen. Russell B. Long (D-La.), named floor manager of the measure by Byrd, argued urgently, like Presidents Johnson and Kennedy before him, that the big tax cut is essential to maintain an expanding economy. Without such a stimulus, he said, the Nation risks an economic downturn at the end of the year.</br></br>"It wonÛªt solve the problem of unemployment and depressed areas,Û said Long. ÛÏIt wonÛªt solve the problem of poverty in America. What it will do is bring our economy to a point that we can do something about those problems.Û</br></br>The drive for swift passage opened with about a dozen Senators on the floor. No votes are contemplate^ today, but a stretch-out schedule was planned for next week aimed at a final vote by Feb. 7 or 8. Senate Majority Leader Mike Mansfield (D-Mont.) has announced that the Senate will meet at 9 a.m. starting Monday and sit late in the Jevening. ' -