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Whisky Gasoline and Auto Taxes Hit New High
The Internal Revenue Service reports record excise tax receipts for fiscal 1956 ending June 30, led by whisky, gasoline and autos. Gasoline taxes topped $1.03 billion while alcohol taxes neared $2.92 billion, and auto taxes reached $1.38 billion. A July 1 highway tax hike is expected to push next year’s totals higher, with much of the revenue earmarked for road construction.
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Internal Revenue Service
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