Pres. Ford's State of the Union speeches: on Tax Reform

One-time rebate of $1000 per person & $4B for businesses

I call on the Congress to act by April 1. If you do, the Treasury can send the first check for half of the rebate in May and the second by September.

The other 1/4 of the cut, about $4 billion, will go to business, including farms, to promote expansion and to create more jobs. The 1-year reduction for businesses would be in the form of a liberalized investment tax credit increasing the rate to 12% for all businesses.

This tax cut does not include the more fundamental reforms needed in our tax system. But it points us in the right direction--allowing taxpayers rather than the Government to spend their pay.