UNITED STATES REVENUE.
SALES LEVY DEFEATED.
PROBLEM OF BALANCING THE BUDGET. (Received March 25th, 6 p.m.) WASHINGTON, March 24. The defeat of the Sales Levy in the House of Representatives by an insurgent coalition, in face of the support of both Democratic and Republican leadership, practically Wrecks the carefully planned two-party Revenue Bill designed to balance the enormous deficit m the Budget. It is estimated that it would have raised 460,000,000 dollars. This loss, together with the losses of various minor amendments,, leave the Bill approximately 365,000,000 dollars short o± the estimated 1,096,000,000 dollars needed. The leaders of the Ways and Means Committee, which drafted the measure, were nonplussed at first, and offered to turn the fiscal situation over to the insurgents to meet it as best they could. Later they reconsidered their decision, and decided to call a committee meeting to consider a new means of raising the revenue.
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Press, Volume LXVIII, Issue 20505, 26 March 1932, Page 15
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150UNITED STATES REVENUE. Press, Volume LXVIII, Issue 20505, 26 March 1932, Page 15
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