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Senator George Rules Out Personal Tax Cut Plan
Sen George of Georgia said there is no plan to add a personal income tax cut to the House extended corporate and excise tax bill. The extension keeps corporate rates at 32 percent until April 1, 1957, and maintains current excise taxes for liquor, gasoline, beer, wine, cigarettes, autos and trucks. Byrd and Ways and Means members will meet soon with limited hearings while administration opposition remains. The subcommittee also weighed changes on exemptions and revised rates, noting some revenue gains offset losses in a proposed alcohol and tobacco tax system.
MENTIONED IN THIS ARTICLE
Washington
George
D-Ga
House
Eisenhower
Yates
Byrd
D-Va
Ways and Means
Treasury