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President Kennedy Pushes Tax Cut

Mar. 23, 1963 - President Kennedy told the nation today the unemployment rate will climb “steadily and swiftly” to 7% — even without a recession — unless taxes are cut to speed economic growth. Mr. Kennedy flew to Chicago for ceremonies marking the formal dedication of O’Hare International Airport, the aerial crossroads of America and the busiest airport in the world. Mr. Kennedy told his airport audience the U.S. plans to develop airliners capable of traveling 3 times the speed of sound, or about 2,200 m.p.h. Tens of thousands lined downtown streets as the President drove to a civic luncheon where some 1,400 Chicagoans gathered to celebrate the dedication and hear the President. In a major address at the luncheon, Mr. Kennedy made a blunt bid for greater public support of his plan to cut taxes by $10.3 billion during the next three years. He said a tax cut is needed if the country is to cope with an onrushing “tide of manpower.” The President stated that the creation of millions of jobs is “our No. 1 domestic concern.”


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