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In page Economic Stabilization Act of 1970:

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Nixon commented on the futile attempts to contain the economy in the 1960s and promised to bring about change by proposing tax cuts over the course of his term to create new jobs.[3] In 1971, Nixon proceeded with the tax cuts under the provisions of phase II of the Economic Stabilization Act as it was amended earlier that year.[4] Nixon believed America needed a comprehensive manpower policy to reinvigorate the economy. Nixon and the proposed Act cited the Manpower Development and Training act of 1962 to use the competence of America's workforce and the Manpower Revenue Sharing Act to make training programs accessible to local governments.[2]