Economic panel supports congressional tax cutting
In its 1980 midyear report, the Joint Economic Committee says Congress should concentrate economic recovery efforts on tax cuts to generate sustained economic growth and encourage increased productivity.
The general tax proposal is consistent with aspects of the $39 billion tax cut bill approved by the Senate Finance Committee last week. But the report says tax cuts should be paired with "systematic and vigorous efforts to reduce or eliminate unnecessary and wasteful government spending." It adds that public and private job-training programs should be redesigned to stress skills most likely to be needed in the private sector.