A LARGE DEFICIT EXPECTED IN U.S.A.
amount yielded by TAXES SHOWS BIG DROP.
(United Press Assn.—By Electric Telegraph—Copyright.) WASHINGTON, March 23.
Definitely illustrating the full extent of the blow that the 1930 depression dealt American taxable incomes, the Treasury Department stated that the collection of income and corporation taxes this March arregrates only about 350,000,000 dollars, compared with 559,500,000 dollars in March, 1930, and 100,000,000 dollars below the estimate.
This decrease in the present collection means a decrease for the entire fiscal year of more than 400,000,000 dollars below last year. Officials are unwilling to make predictions concerning the deficit, but it appears probable that it will run into between 700,000,000 and 800,000,000 dollars for this year.
Reports of revenues in sight are so discouraging that rumours are current that President Hoover may call together , the heads of departments in order to find means to curb expenditure.
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Bibliographic details
Star (Christchurch), Volume XLIV, Issue 72, 25 March 1931, Page 1
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147A LARGE DEFICIT EXPECTED IN U.S.A. Star (Christchurch), Volume XLIV, Issue 72, 25 March 1931, Page 1
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