JOINT ECONOMIC COMMITTEE
CONGRESS OF THE UNITED STATES

NINETY-FIRST CONGRESS

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JOINT ECONOMIC COMMITTEE

[Created pursuant to sec. 5(a) of Public Law 304, 79th Cong.]

CONTENTS

WITNESSES AND STATEMENTS

Patman, Hon. Wright, Chairman of the Joint Economic Committee:
Opening remarks

Page

1

Javits, Hon. Jacob K., ranking minority member of the Joint Economic
Committee: Opening statement.

Barr, Hon. Joseph W., Secretary of the Treasury-
Okun, Hon. Arthur M., Chairman of the Council of Economic Advisers__
Zwick, Hon. Charles J., Director of the Bureau of the Budget____

245886

95
98

ADDITIONAL INFORMATION AND EXHIBITS

Barr, Hon. Joseph W.:

Staff study: "Comparison of Budget Outlays and Tax Expenditures

by Function-Fiscal Year 1970"-

Supplementary statement: "Tax Expenditures-Government Ex-

penditures Made Through the Income Tax System'

Table 1. National Defense, Tax Expenditures, 1968.

Table 2. International Affairs and Finance, Tax Expenditures,

1968__

Table 3. Agriculture and Agricultural Resources, Tax Expendi-
tures, 1968..

Table 4. Natural Resources, Tax Expenditures, 1968-

Table 5. Commerce and Transportation, Tax Expenditures, 1968-

Table 6. Community Development and Housing, Tax Expendi-

tures, 1968.__.

Table 7. Health and Welfare, Tax Expenditures, 1968-

Table 8. Education and Manpower, Tax Expenditures.

Table 9. Veterans Benefits and Services, Tax Expenditures, 1968.

Table 10. Aid to State and Local Government Financing, Tax

Expenditures, 1968.

Prepared statement.

Charts and text: "The Fiscal Program for 1970 in Perspective".

Response to Chairman Patman query re high interest rates.

112

Response to request from Chairman Patman for comment re Urban

Development Bank.......

114

Response to Chairman Patman query re "realistic budget”.
Reply to Chairman Patman's query re increase in 1970 tax receipts...

Council of Economic Advisers:

138

139

Response to Chairman Patman's query re high interest rates..

Response to Chairman Patman's query re "realistic budget”.

112

137

Reply to Chairman Patman's query re increase in 1970 tax receipts...

139

Javits, Hon. Jacob K.:

Editorial: "Unbalanced Budget Priorities," New York Times....

214

Patman, Hon. Wright:

Treasury Department publication: "Maintaining the Strength of the

U.S. Dollar in a Strong Free World Economy"

Response to Chairman Patman's query re high interest rates.

Response to Chairman Patman's query re "realistic budget".

113

138

Material submitted in response to questioning by Representative
Rumsfeld re functional classification of budget__

152

Letter sent to New York Times replying to editorial "Unbalanced

Budget Priorities”.

215