TAX BILL IN U.S.
Eisenhower Plan Upheld
(N.Z. Press Association—Copyright) (Rec. 8 p.m.) WASHINGTON, March 18. The House of Representatives today passed President Eisenhower’s Tax Reform Bill after narrowly defeating a Democratic Party amendment to reduce personal taxation through increasing individual exemptions by 100 dollars. Voting on the Democratic Party amendment, which it was estimated would cost 2,400,000,000 dollars a year, was 210 against and 204 in favour. Nine Democrats voted with the Republicans against the amendment, and 10 Republicans and one Independent voted with the Democrats for the amendment. The final vote approving the bill was 339 in favour and 80 against. The Administration’s bill provides for a reduction of about 1,397,000,000 dollars, including a reduction in taxation on dividends. The measure now goes to the Senate, where the Democrats are also backing a tax exemption increase. The vote in the House of Representatives was a victory for Mr Eisenhower, who in a television and radio broadcast this week said the Democratic Party plan would undermine the cornerstone of his whole programme.
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Press, Volume XC, Issue 27303, 20 March 1954, Page 7
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173TAX BILL IN U.S. Press, Volume XC, Issue 27303, 20 March 1954, Page 7
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