[Barbara Jordan Scrapbook, July - September, 1974] Page: 20 of 236
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lion, the smallest red ink fig-
ure since fiscal 1970, the
Treasury and Office of Mann
agement and Budget reported.
At $263.3 billion, total out-
lays were $6.3 billion below an
estimate made as recently as
last February. This shortfall
was not because of "savings"
decisions of the Nixon admin-
istration, but because the
money spent on various pro-
grams was less than had been
estimated.
There were a variety of rea-the estimate in February.
fiscal year ended June 30.
though individual income
collections were higher #
estimated, corporate pro
taxes produced $4.3 bill
less than expected, a di
that has not been fully
plained. About $1 billion of t
shortfall was accounted for
congressional failure to ex
a windfall profits tax on
companies.
Some major expendit
shortfalls, as compared 't
1
.4 = -
3
ri
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[Barbara Jordan Scrapbook, July - September, 1974], book, 1974; (https://texashistory.unt.edu/ark:/67531/metapth616583/m1/20/: accessed May 21, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Texas Southern University.