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Working together the Congress, the President and the people I am confident that we can translate these proposals into an action program that can reform and revitalize American Government and, even more important, build a better life for all Americans. The White House, February 2, 1973. State of the Union Address Richard Nixon January 30, 1974 Mr. Speaker, Mr.
Just as 1970 was the year in which we began a full-scale effort to protect the environment, 1974 must be the year in which we organize a full-scale effort to provide for our energy needs, not only in this decade but through the 21st century.
These advances are a needed investment in America's most precious resource, our next generation. And I urge the Congress to act on this legislation in 1974. One measure of a truly free society is the vigor with which it protects the liberties of its individual citizens.
America's military strength has always been maintained to keep the peace, never to break it. It has always been used to defend freedom, never to destroy it. The world's peace, as well as our own, depends on our remaining as strong as we need to be as long as we need to be. In this year 1974, we will be negotiating with the Soviet Union to place further limits on strategic nuclear arms.
Unemployment right now is the lowest it has been since 1974, and not since World War II has such a high percentage of American people been employed. The rate of inflation went down. There was a good growth in business profits and investments, the source of more jobs for our workers, and a higher standard of living for all our people.
Looking at the year 1974 which lies before us, there are 10 key areas in which landmark accomplishments are possible this year in America. If we make these our national agenda, this is what we will achieve in 1974: We will break the back of the energy crisis; we will lay the foundation for our future capacity to meet America's energy needs from America's own resources.
I am particularly gratified to report that over the past 2 1/2 years, we have been able to reverse the dangerous decline of the previous decade in real resources this country was devoting to national defense. This was an immediate problem I faced in 1974. The evidence was unmistakable that the Soviet Union had been steadily increasing the resources it applied to building its military strength.
The measures I have outlined in this message set an agenda for truly significant progress for this Nation and the world in 1974. Before we chart where we are going, let us see how far we have come. It was 5 years ago on the steps of this Capitol that I took the oath of office as your President. In those 5 years, because of the initiatives undertaken by this Administration, the world has changed.
To bolster business and industry and to create new jobs, I propose a 1-year tax reduction of $16 billion. Three-quarters would go to individuals and one-quarter to promote business investment. This cash rebate to individuals amounts to 12 percent of 1974 tax payments a total cut of $12 billion, with a maximum of $1,000 per return. I call on the Congress to act by April 1.
But my colleagues, this I believe: With the help of God, who has blessed this land so richly, with the cooperation of the Congress, and with the support of the American people, we can and we will make the year 1974 a year of unprecedented progress toward our goal of building a structure of lasting peace in the world and a new prosperity without war in the United States of America.
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