Nixon White House Tapes ›Tape 86 › Conversation 086-002

Nixon, Long & Bennett on Revenue Act of 1971 and Economic policy

Friday, December 10, 1971 · 4:07 PM–4:18 PM ET · Cabinet Room

ParticipantsNixon, Richard M. (President);  Long, Russell B.;  Bennett, Wallace F.;  Anderson, Clinton P.;  Talmadge, Herman E.;  Curtis, Carl T.;  Miller, Jack R.;  Griffin, Robert P.;  Mills, Wilbur D.;  Byrnes, John W.;  Betts, Jackson E.;  Chamberlain, Charles J.;  Schneebeli, Herman T.;  Ullman, Al;  Smith, James E.;  Vail, Thomas;  Martin, John B.;  Shultz, George P.;  MacGregor, Clark;  Timmons, William E.;  McEleney, WarrenConversation086-002 onTape 86StartFriday, December 10, 1971 at 4:07 PMEndFriday, December 10, 1971 at 4:18 PMRecording deviceCabinet RoomSourceNixon Library record for 086-002 ↗

AI Summary

President Nixon met with a bipartisan group of Congressional leaders from the House Ways and Means Committee and the Senate Finance Committee to mark the signing of the Revenue Act of 1971. The President utilized the ceremony to praise the legislators for their cooperation in passing a responsible tax bill, contrasting it with fears that the measure would become an unmanageable 'Christmas tree' of amendments. The discussion highlighted the economic benefits of the legislation, particularly its role in job creation and the stimulation of the automobile industry following the administration's new economic program initiated in August.

Audio

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Transcript (AI-generated)

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Names and numbers are often wrong; speakers are not identified. Do not cite it as authoritative — verify against the audio and the finding aid.

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21:01I'd like to say a word about this bill.
21:27Thank you very much, and I want to say a word in relation to the bill, and also in relation to the members of the House and Senate who are here, both Republicans and Democrats, who were coming.
21:32I guess, again, like I said, this is a kind of fiscal bill, like a debt.
21:44It's a bill truly that's working for all Americans.
21:47It's increasing sanctions, increasing sanctions on all American citizens.
21:52That, in another sense, is also a vital part of the future of this country.
21:57The new economic program that was announced in August this year.
22:04The other part of the program is equally important.
22:25Over 3 million automobiles.
22:47and have been sold since the announcement on August 15th of May.
22:48That means that an average of $200 for 3 million people will be repaid against themselves via the Congress.
22:51And we can see that approximately $600 million will be exposed against ourselves around the 16th of May, even if the government does not trust us at all.
23:11On the other side, too, we have the job creation aspects in our own areas of non-development credits, and which we believe will have the effect of stimulating investment money in our industries in New England, but will also have the added benefit of making America's industry better.
23:29More contentious than it has been for a long time.
23:33Now I worry about how it all came about.
23:36When I made the proposal, I was very afraid to deny it.
23:40I recall, and David, and a lot of other members of the administration working for the Congress, some of those who were there said it was impossible to send a tax bill to the Congress at this time of year, just as the Lord elected to do it.
23:56and expect the bill to come out in a responsible way.
24:00In fact, it was said that a tax bill presented to the Congress now would inevitably end up as a Christmas tree.
24:06But, of course, Satan has to close that.
24:09It would be a Christmas tree in the sense that it would be slow-loaded down the bridge, because it would break down the tree.
24:18I would like to say that the tax bill
24:21that has been shown by the ranking members, and all the members of the finance committee, the chairman and the ranking member and their colleagues, the chairman and the ranking member and their colleagues on the Senate finance committee, has presented a splendid example of our system of work, and where it has been.
24:44This is the Christmas tree.
24:47It is one which there is something for all of you to speak, but it is one which will not break down the truth.
24:56It could have been that temptation of telling them that Congress is coming forward with a responsible bill, which will mess up the economy, mess it all up.
25:05So, speaking for the American people, for the administration, I want to give it credit for their students.
25:13Thank you very much
25:45I'll be waiting here until I can call you again.
26:13Ha, ha, ha, ha, ha, ha, ha.
26:14Ha, ha, ha, ha, ha, ha.
26:16Ha, ha, ha, ha, ha, ha.
26:17Ha, ha, ha, ha, ha, ha.
26:18Ha, ha, ha, ha, ha, ha.
26:19Ha, ha, ha, ha, ha, ha.
26:20Ha, ha, ha, ha, ha, ha, ha.
26:22Ha, ha, ha, ha, ha, ha, ha.
26:23Ha, ha, ha, ha, ha, ha, ha.
26:25Ha, ha, ha, ha, ha, ha, ha.
26:26Ha, ha, ha, ha, ha, ha, ha.
26:28Ha, ha, ha, ha, ha, ha, ha.
26:30Ha, ha, ha, ha, ha, ha, ha.
26:31Ha, ha, ha, ha, ha, ha, ha.
26:32Ha, ha, ha, ha, ha, ha, ha.
26:34Ha, ha, ha, ha, ha, ha, ha.
26:36Ha, ha, ha, ha, ha,
26:37Thank you very much.

NARA Description

On December 10, 1971, during the Signing of the Revenue Act of 1971 (HR 10847), President Richard M. Nixon, Russell B. Long, Wallace F. Bennett, Clinton P. Anderson, Herman E. Talmadge, Carl T. Curtis, Jack R. Miller, Robert P. Griffin, Wilbur D. Mills, John W. Byrnes, Jackson E. Betts, Charles J. Chamberlain, Herman T. Schneebeli, Al Ullman, James E. Smith, Larry Woodworth, Thomas Vail, John B. Martin, George P. Shultz, Clark MacGregor, William E. Timmons, and Warren McEleney met in the Cabinet Room of the White House from 4:07 pm to 4:18 pm. The Cabinet Room taping system captured this recording, which is known as Conversation 086-002 of the White House Tapes.

Nixon Library Finding Aid

Conversation No. 86-2

Date: December 10, 1971
Time: 4:07 pm - 4:18 pm
Location: Cabinet Room

The President met with Russell B. Long, Wallace F. Bennett, Clinton P. Anderson, Herman E.
Talmadge, Carl T. Curtis, Jack R. Miller, Robert P. Griffin, Wilbur D. Mills, John W. Byrnes,
Jackson E. Betts, Charles J. Chamberlain, Herman T. Schneebeli, Al Ullman, James A. Burke,
Martha W. Griffiths, John B. Connally, Charls E. Walker, John S. Nolan, James E. Smith, Larry
Woodworth, Thomas Vail, John B. Martin, George P. Shultz, Clark MacGregor, William E.
Timmons, and Warren McEleney
[Recording begins while the conversation is in progress]

     [General conversation/Unintelligible]

     Bill signing [Revenue Act of 1971]
           -Souvenir pens

     [General conversation]

     Revenue Act
         -Beneficiaries

     New economic program
         -Inflation
         -Wage/price freeze
         -Job creation
         -Automobile industry
         -Meeting at Camp David
               -Tax bill
         -The President expresses appreciation to Congress
               -Applause

     Greetings

     [General conversation/Unintelligible]

The President, et al. left at 4:18 pm

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All 75 conversations from December 10, 1971 →

Cite this conversation

Conversation 086-002, December 10, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/086-002 (accessed September 18, 2026).