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21 Tax Foundation's Washington News 1 (1969)

handle is hein.tera/wingnews0023 and id is 1 raw text is: January 10, 1969 Vol. .21 No.L__ 1725 K Street, N.W. Washington, D. C. 20006 SCHEDULE FOR SUBMISSION OF BUDGET AND OTHER NESSAGES UNCERTAIN As this is written, with the first week of the First Session of the 90th Congress completed, there is still uncertainty as to the schedule for sub- mission of President Johnson's final state of the union, budget, and economic messages. Earlier there had been indications that the fiscal 1970 budget would be transmitted to Congress on Monday, January 13; but that plan has been abandoned, qenerating much speculation. It is generally assumed the budget message will not go to Congress un- til after the President will personally appear before the Congress for this purpose, or will send the message down to be read for him. One report, as yet unconfirmed, suggests the Chief Executive will deliver his final state of the union report in person, probably at a joint night session January 13 or 14. Presumably the budget message then could go to Congress either Wed- nesday or Thursday of next week, January 15 or 16. Confusion arises, however, over reports that the President is still weighing alternative approaches, depending upon whether President-elect Nixon will join in recommending extension of the surtax enacted last year and scheduled to expire June 30 -- either at the full ten percent or at a lesser rate. Current reports have the President determined to submit a bal- anced fiscal 1970 budget. With extension of the surtax, it is speculated that the new budget would propose expenditures of $195 or $196 billion, with a small surplus. Without the surtax extension, the speculation is that President Johnson will peg the expenditure total around $190 billion. Ac- cording to such reports, defense expenditures would be the same in either event. While slightly above the current level, the new defense estimates are said to reflect some reduction in Vietnam costs, apparently assuming de- escalation in the fighting there. However, in order to submit a budget in the lower expenditure range being discussed, rather sharp expenditure reductions would be required -- some of which would be certain to prove unpopular, and perhaps strain the realism of the new budget. But current speciulationi suggests that President Johnson is prepared to go in this direction if he cannot get agreement on the surtax extension from the President-elect. It is said he will propose cuts in some popular programs,and might even propose repeal or postponement of the $3 billion Federal workers pay boost scheduled for July 1. Such re- ductions probably would meet with bitter resistance -- and would undoubted- ly create problems for the incoming administration. Meanwhile, while the maneuvering goes on the uncertainty and confusion continue. Some decision may be forthcoming this week-end

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