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18 Tax Foundation's Washington News 1 (1966)

handle is hein.tera/wingnews0020 and id is 1 raw text is: January 7, 1966 1725 K Street, N.W. Washington, D. C. 20006 HOPES FOR SHORT 1966 SESSION FADING AS CONGRESS RETURNS The Second Session of the 89th Congress convenes January 10, amid dcubts that it will be able to complete its labors and adjourn by the end of July, as had been hoped. The Vietnam war, of course, represents the big unknown quantity. But a run-down of other issues with which the Congress will be confronted provides sufficient evidence to support the view being voiced by some Congressional leaders that the 1966 session will be neither short nor tranquil. President Johnson's State-of-the-Union address probably will be deliv- ered at an evening session next week, although no date has been officially announced. Despite earlier speculation that there might be a delay in the presentation of the budget and economic messages, such plans have now been abandoned, and the economic report will be submitted on schedule, by Jani'ry 20, with the fiscal 1967 budget sent to Congress not later than January 25 (probably on the 2th). The first order of business, however -- expected to be submitted next week -- will be a request for 1966 supplemental appropria- tions to support the military actions in Vietnam, reported to total $12-13 billion. Although no serious opposition is anticipated, it doubtless will trigger -- and the Administration reportedly wants -- a full-dress debate on U. S. policies and efforts in Vietnam. Official sources recently have suggested that administrative budget expenditures in the fiscal year 1967, to be detailed in the new budget, will total between $110 and $115 billion; budget deficits in both the current and next fiscal years will be substantially higher than previously predicted. This new budgetary outlook has effectively silenced all discussion of pos- sible further tax reductions, Indeed, Washington speculation currently cen- ters around the possibilities of tax increases. Informed observers at the moment generally agree that no tax increase will be proposed at this time. But there is talk of the possible postponement of the second stage of the excise reductions enacted last year (which becomes effective in 1967), or of a possible increase in present personal income tax withholding rates (without increasing the overall tax liability). Occasionally one even hears murmurings of the possible revival of the excess profits tax. Domestically, while Congress may not be pressed ti consider as many new programs as last year, a number of thorny issues will confront it. Among these are the proposed repeal of the right-to-work provision, funding the controversial rent supplement program, proposals to federalize the existing Federal-State unemployment compensation program, and the necessity to reau- thorize the foreign aid, anti-poverty, food for peace, certain health and school aid programs, and others. Vol. 18b N11

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