AMERICAN TAX BILL
ATTITUDE OF THE PRESIDENT LOOPHOLE FOR EVASIONS ' WASHINGTON, May 27 President Roosevelt, in a broadcast addifess, took unusual means of making known his protest against the action of Congress regarding the Tax Bill on April 23. He said he believed that the modifications made by Congress allowed a loophole by means of which the rich (could escape just taxation, and a deep social injury would bo committed. However, since the measure had other necessary beneficial features, he Would let tho bill, become law without his signature, by allowing the statutory term to elapse. At a conference between committees of the Senate and the House of Representatives on April 23, it was agreed to retain in the Tax Bill in a modified form,'the undistributed profits tax, and to cease taxing long-term capital gains in the ordinary way of taxation.
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New Zealand Herald, Volume LXXV, Issue 23050, 30 May 1938, Page 10
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141AMERICAN TAX BILL New Zealand Herald, Volume LXXV, Issue 23050, 30 May 1938, Page 10
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