The Tax Cut Proposal Of 1963 | Newstalgia

In what became the most sweeping set of changes to Tax Cut legislation, House Bill HR-8368 passed by a vote of 271-175. It represented a radical change in the economic structure of the country by basing its operations on the theory of deficit financing.

President Kennedy: “No more important legislation will come before the Congress this year than the bill before the House to reduce Federal Taxes. In fact, no more important domestic economic legislation has come before the Congress in some fifteen years.”