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Story
January 21, 1953
The Nome Nugget
Nome, Nome County, Alaska
What is this article about?
Republican leaders Rep. Daniel Reed and Rep. Joe Martin prioritize H.R.1 bill for 11% income tax cut by June 30, 1953, amid speculation on feasibility given high defense spending plans.
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TAX REDUCTION IN 1953?
It is interesting to note that the chief Republican spokesman on taxes in the House, Rep. Daniel Reed, of New York, and the new Speaker of the House, Rep. Joe Martin, of Mass., have both designated a bill lowering taxes 'H.R.1.' That means H.R.1 is slated for early action in the lower body of Congress, as the first bill in order of business.
This bill, sponsored by Rep. Reed, would lower income taxes about eleven per cent for most people at the end of June 30, 1953. In addition to this tax-lowering bill, many other tax reduction bills have been introduced, though the Reed bill is certain to be considered by the House.
There has been much speculation, from both Republican and Democratic sources, on the question of tax reduction this year. Spokesmen for both parties have claimed that tax reductions in 1953 were not likely because of huge defense expenditures already planned and tentatively approved. On the other hand, there are some members of the House and Senate who feel that tax reductions can be effected this year, if economies are invoked in the necessary places, with the necessary vigor.
It is interesting to note that the chief Republican spokesman on taxes in the House, Rep. Daniel Reed, of New York, and the new Speaker of the House, Rep. Joe Martin, of Mass., have both designated a bill lowering taxes 'H.R.1.' That means H.R.1 is slated for early action in the lower body of Congress, as the first bill in order of business.
This bill, sponsored by Rep. Reed, would lower income taxes about eleven per cent for most people at the end of June 30, 1953. In addition to this tax-lowering bill, many other tax reduction bills have been introduced, though the Reed bill is certain to be considered by the House.
There has been much speculation, from both Republican and Democratic sources, on the question of tax reduction this year. Spokesmen for both parties have claimed that tax reductions in 1953 were not likely because of huge defense expenditures already planned and tentatively approved. On the other hand, there are some members of the House and Senate who feel that tax reductions can be effected this year, if economies are invoked in the necessary places, with the necessary vigor.
What sub-type of article is it?
Historical Event
What themes does it cover?
Fortune Reversal
What keywords are associated?
Tax Reduction
H.R.1
Income Taxes
Defense Expenditures
Congress
Republican Spokesmen
What entities or persons were involved?
Rep. Daniel Reed
Rep. Joe Martin
Where did it happen?
House Of Congress
Story Details
Key Persons
Rep. Daniel Reed
Rep. Joe Martin
Location
House Of Congress
Event Date
1953
Story Details
Rep. Reed sponsors H.R.1 to reduce income taxes by about 11% by June 30, 1953, prioritized for early House action by Republican leaders, despite speculation on likelihood due to defense spending, with some advocating for economies to enable cuts.