TAXATION IN U.S.A.

Evening Post, Volume CXL, Issue 60, 8 September 1945, Page 7

TAXATION IN U.S.A.

LIMITED REDUCTIONS

TRUMAN TO CONGRESS

(By Telegraph—Press Associatloa— -Copyright.} - WASHINGTON, September 6.

President Truman, in a 16,000-word message to Congress, urged speedy enactment of a taxation Bill providing limited reductions next year. He stressed that the nation must reconcile itself to the fact that opportunities for tax reduction were limited. The total war effort could not ba liquidated overnight, he said. Estimating the war expenditure for the current fiscal year'at about 50,000 million dollars of a total expenditure of 66,000 million dollars, the President said that with current receipts at about 36,000 million dollars, they faced an. estimated deficit of about 30,000 million dollars for the current year. President Truman recommended full employment legislation, unemployment compensation up to 25 dollars a week, and a substantial increase in the present minimum wage level of 40 cents an hour. He added that it would be necessary, however, for the Government to resist pressure for wage increases, which would imperil the price ceilings. The President urged legislation creating a fair employment practice committee to prevent employment discriminations involving race, religion, and colour, and also legislation strengthening the Labour Department and giving it supervision of collective bargaining, conciliation, and. voluntary arbitration.

He suggested that the draft should be continued for men 18 to 25 years of age for two years.

Dealing with lend-lease, President Truman recommended, first, repeal of the Johnson Act barring private loans to nations in default of previous lending, and, secondly, appropriation of the remaining 550,000,000 dollars authorised by Congress for the United States participation in UNRRA and consideration of the additional commitment of 1350 million dollars recommended as the United States additional share by the UNRRA council at its recent meeting.

Mr. Truman foresaw the need also for additional lending power to ensure a rapid and successful transition to peacetime world trade. .

Appropriate recommendations would be made when they were completed, he said. Exploratory conversations had already begun with their associates.

The President recommended Congress to take early steps to increase members' salaries from 10,000 t0' 20,000 dollars.

He asked for legislation to expedite the disposal of the large surplus tonnage of merchant ships, and urged prompt resumption of normal operation of the Merchant Marine to reestablish the nation's foreign trade.

President Truman said he would soon ask Congress for a national health, programme to provide adequate medical care for all Americans and to protect them from financial loss and hardships resulting from illness and accidents and also for a broad arid comprehensive housing Bill.