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The Nome Nugget
Nome, Nome County, Alaska
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House Ways and Means Committee decision last week eliminates quick tax increase this spring and dooms Truman's two-package plan for $16.5B in military funding; hearings to cover all proposals before deciding on bill structure.
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WASHINGTON, (AP)--The prospect of any "quickie" tax increase this spring has vanished.
Republicans said a decision the House ways and means committee reached last week also doomed President Truman's proposal for a two-package approach to raising the $16,500,000,000 he asked to meet mounting military costs.
Chairman Doughton (D.-N. C.) announced after an hour-long closed session of the committee that its current tax hearings will cover all revenue raising suggestions made by Secretary of the Treasury Snyder, and any other proposals that members of the committee desire to bring up.
Only after those hearings are completed, he said, will the committee decide whether to proceed with a two-package or one-package bill.
Mr. Truman and Secy. Snyder urged Congress to pass as quickly as possible a bill to raise taxes slightly more than ten billion dollars a year, dating it back to Jan. 1, and then to consider in more leisurely fashion still another.
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Washington
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prospect of any "quickie" tax increase this spring has vanished. republicans said a decision the house ways and means committee reached last week also doomed president truman's proposal for a two-package approach to raising the $16,500,000,000 he asked to meet mounting military costs.
Event Details
Republicans said a decision the House ways and means committee reached last week also doomed President Truman's proposal for a two-package approach to raising the $16,500,000,000 he asked to meet mounting military costs. Chairman Doughton (D.-N. C.) announced after an hour-long closed session of the committee that its current tax hearings will cover all revenue raising suggestions made by Secretary of the Treasury Snyder, and any other proposals that members of the committee desire to bring up. Only after those hearings are completed, he said, will the committee decide whether to proceed with a two-package or one-package bill. Mr. Truman and Secy. Snyder urged Congress to pass as quickly as possible a bill to raise taxes slightly more than ten billion dollars a year, dating it back to Jan. 1, and then to consider in more leisurely fashion still another.