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Treasury to propose 1926 tax cuts across all classes
Washington July 23 1925 Treasury Secretary Mellon plans broad 1926 tax reductions beating a path to relief for poor and middle income Americans and substantial relief for the rich and corporations The plan includes lowering surtax rates to 25 percent reducing or eliminating estate and gift taxes and scrapping nuisance taxes The Treasury expects a 300 million dollar tax melon next year with a potential surplus of 250 to 300 million dollars projected for 1926 resulting in far reaching tax relief across incomes and businesses
MENTIONED IN THIS ARTICLE
Eivery Than
United States
International News Service
Washington
Treasury Department
William K. Hutchinson
N. 8
Secretary of the Treasury
Mellon
Treasury
Coolidge
Congress
Huston and
Glass