President Eisenhower Budget Proposes Slashed Military and Tax Reforms
President Eisenhower outlines a leaner fiscal plan focused on stronger air power and modern weapons to sustain national security over an extended period. He seeks reduced army divisions, lower military pay, higher debt limit, and tax revisions including expanded child care deductions, dividend tax relief, and soil conservation allowances for farmers. The plan lowers overall spending, shifts authority to private enterprise, and details changes in corporate taxes and excise duties.
MENTIONED IN THIS ARTICLE
Free World
Eisenhower
Congress
Bia
Truman
Hisenhower
Federal Activities
S—Eisenhower
House
Ways and Means
Eisenhower budget targets veterans aid and tax reform
President Eisenhower proposes increased veterans services from 473 to 554 million dollars for the next year and broad tax changes. The plan includes liberalizing depreciation, allowing partnerships to be taxed as corporations, extending jobless benefits to more workers, and shifting certain federal and private employer costs into the unemployment program. He also outlines cuts and reallocations across military and domestic programs.
MENTIONED IN THIS ARTICLE
Eisenhower
Senhower
g—Hsenhower
Posal
Treasury
Washington
Dent Fiserhower
Congress
Labor Department
How Government Will Split Budget Dollar
Washington indicates the Eisenhower budget for fiscal 1953 would divide each dollar into sixty eight cents for major national security programs including military foreign aid atomic energy and stockpiling. Twenty two cents would cover charges fixed by law such as interest veterans pensions and grants to states. Ten cents would fund all other government functions.
MENTIONED IN THIS ARTICLE
Washington
Eisenhower
Thais
Congress
Budget Highlights From Eisenhower Tax Program
President Eisenhower outlines fiscal 1935 budget assumptions and tax composition. He notes 43 percent from personal income taxes, 16 from corporate taxes, 6 from customs and other taxes, 4 from borrowing, with receipts excluding railroad retirement trust and Social Security figures.
MENTIONED IN THIS ARTICLE
Carridt
Railroad Retirement Trust
Eisenhower
Debt Interest Near Seven Billion in Budget Forecast
Washington reports the government will pay about 6.5 billion dollars in interest on the national debt next fiscal year. President Eisenhower said the estimate in the budget message, reflecting a 275 million rise from the current year and pressures from higher rates and more borrowing. The national debt nears the legal limit as Eisenhower seeks Congress to raise it.
MENTIONED IN THIS ARTICLE
Senate
House
Washington —F
Eisenhower
Congress
Also Mentioned on This Page
Uncle Sam
Eisen
Howor
Navy
AIR Force
Tts
Orient
Africa
Latin America
TVA
U.S
Lawson
Czsave
Long
Beach
White
Tak
Spigmand
Diamonds
Lot HO
Neus
Tor Ng
Jamonda
Lot MO
Sea
Subre Oe
Science
Diamand
Spaclouaty
Sinea
Lawson’s
Pine Ave
Ene
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