TAXES IN AMERICA
LOW' INCOMES FREED
Rec. 9 a.m. NEW YORK, October 28. A joint committee of the Senate and the House of Representatives approved a Bill reducing taxes by 5,920,000,000 dollars in 1946 and removing 12,000,000 low incomes from the rolls. Corporation taxes were reduced 3.136.000,000 dollars, comprising the excess profits tax 2,555,000,000 dollars, corporate1 surtax 347,000,000 dollars, and capital stock tax 234,000,000 dollars. Individual taxes were reduced 2 784 000,000 dollars, comprising income tax 2,644,000,000 dollars and motor-car tax 140,000,000 dollars. Congress next week is expected to pass the measure, which is a compromise between the two Houses. • # . President Truman will probably sign it. although the Administration requested reduction of only 5,000,000,000 dollars in taxes.
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Bibliographic details
Evening Post, Volume CXL, Issue 103, 29 October 1945, Page 6
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117TAXES IN AMERICA Evening Post, Volume CXL, Issue 103, 29 October 1945, Page 6
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