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The Act's Republican sponsors, Representative Jack Kemp of New York and Senator William V. Roth, Jr., of Delaware, had hoped for more significant tax cuts, but settled on this bill after a great debate in Congress.
In response, Tom Gratrix, head of Sharp's sent a telegram to the Chancellor warning that unless a similar tax cut were given to the purchase tax rate for three-wheelers, there would be 300 redundancies and possibly the closure of the Sharp's factory.