Congress Narrowly Defeated President Johnson's Request in 1964 for Authorization

question 76

True/False

Congress narrowly defeated President Johnson's request in 1964 for authorization to "take all necessary measures" to prevent further aggression in Vietnam.

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Definitions:

Taxable

Describes income, goods, or transactions subject to taxation, according to government laws and regulations.

Transactions

Transactions are actions carried out between two or more parties that involve the exchange of goods, services, or financial assets.

Original Issue Discount

Refers to the discount from the par value at which a bond or other debt instrument is issued, resulting in a difference that is treated as tax-exempt or taxable interest over the life of the bond.

OID

Original Issue Discount, the difference between the original issue price of a bond and its par value, which is treated as interest by the IRS.