President carter’s first economic plan proposed

The economic history of the Carter Administration can be divided into two more or less equal periods. The first two years were a time of continuous recovery from the severe recession of 1973-1975, which had left investment in fixed capital at its lowest level since the recession of 1970 and unemployment at 9%. The other two years were marked by double-digit inflation with very high interest rates, oil shortages and low economic growth.

the authority to tax.