The new Federal revenue sharing proposal has been received with diverse reactions by politicians, economists, and citizens. The program is divided into $5 billion annually in general revenue sharing and $11 billion annually in special revenue sharing. Proposed alternatives to revenue sharing include (1) reduction of Federal taxes, thereby increasing the potential of State and local governments to increase taxes or to explore new tax sources; (2) a public service jobs program; (3) expansion and proliferation of present Federal aid programs; (4) Federal assumption of all costs of specific jointly financed programs; (5) a shift to block grants by the Federal Government as implied in special revenue sharing; (6) tax credits allowing taxpayers to subtract from their Federal income taxes a certain portion of their State and local taxes, and (7) coordination of State and Federal tax systems. (Author/LLR)