New GOP Tax Cut Proposal Aims at Repealing Wartime Burden
Rep. Harold Knutson introduces HR 4790 the Revenue Act of 1948 to sharply cut taxes. The plan would raise personal exemptions to 600 and add 600 for seniors, reduce rates across income brackets from below 1000 to over 4000, and seek veto-proof passage two weeks before President Truman's state of the union address.
MENTIONED IN THIS ARTICLE
Washington
Harold Knutson
R. Minn
Truman
Congress
Union
Knutson Bill's Effect on a Working Family Showdown
The comparison outlines how a working man with a dependent wife and two children would fare under the Knutson Bill versus current tax law and Knutson's defeated 1947 proposals, excluding deductions. It highlights shifts in tax burdens and potential benefits or drawbacks for a typical household.
MENTIONED IN THIS ARTICLE
Knutson
Knutson Bill Expands Tax Cuts But Levels Remain High
The Knutson bill would cut an estimated 5.6 billion from federal income tax revenues in 1948, about 1.6 billion more than the 1947 bills. It raises relief for low and middle earners while still keeping rates above prewar levels, and 97 percent of taxpayers earning under 4000 dollars yearly would receive 77 percent of the total tax cut.
MENTIONED IN THIS ARTICLE
Knutson
Mail order and chain stores post 17.2 percent November gain
Sales of leading mail order and chain store companies rose 17.2 percent in November compared with the same month a year earlier, signaling stronger consumer demand.
Care in Signing Taft-Hartley Forms Urged
NLRB General Counsel Robert N. Denham urged unions and locals to correct common errors in Taft-Hartley affidavits. He noted nearly 30 percent of forms returned for corrections and warned that locals often fail to provide members with required financial data. Denham stressed annual detailed financial statements to each member and proper submission to NLRB regional and national offices.
MENTIONED IN THIS ARTICLE
Washington
NLRB
Robert N. Denham
Denham
Labor Dept
Wholesale Prices Rise to Postwar Peak in Week to Dec 13
The Bureau of Labor Statistics reported on Dec 18 that wholesale prices climbed through the week ending Dec 13 to a new postwar high. The index reached 161.4 percent of the 1926 base, up 18 percent in four weeks and 15.5 percent over the past year.
MENTIONED IN THIS ARTICLE
Washington
Bureau of Labor Statistics
Clothing Workers Joint Board Party Set For Saturday
The Cincinnati Amalgamated Clothing Workers union hosts its annual holiday party at the union headquarters. Officers and Joint Board delegates will attend as Florence Ellman from the Siebler coat shop provides music with help from other musicians. Refreshments and a Christmas gift exchange planned.
MENTIONED IN THIS ARTICLE
Cincinnati Joint Board
Amalgamated Clothing Workers
Florence Ellman
Siebler Coat Shop
Also Mentioned on This Page
Tax Writing House
Ways & Means Committee
Caproni
Main St
Cincinnati
Ohio
Albert Elmlinger Sr
General Insurance
W. Benson
Reading, O
Dick Lang
Prop
Benson
Reading, Ohio
DEPT
Greater Cincinnati
Covington, Ky
Aurora
Ind
New Castle
ACME
Linn Street
WCPO
Pressler
East Sixth Street
Madison Rd
Oakley
Fanger & Rampe, Inc
Pearl & Broadway
All the Family
Ray’s Upholstering CO
Pearl ST
CLUB
Flamingo
Greater
York Street
Newport, KY
Rollman’s Lamps
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