Ike Proposes Spending Slash Of Over Five Billion Dollars
President Eisenhower calls for a broad tax revision and a reduced national security outlay. He urges a 10 percent personal tax cut, abolition of the excess profits tax, and extra year to file returns to April 15 while shifting some federal activities to state and private sectors. He targets lower debt limits, trimmed 1954 deficits, and a 1955 budget with reduced spending and new tax provisions for individuals and businesses.
MENTIONED IN THIS ARTICLE
Eisenhower
Truman
Congress
Railroad Retirement Trust
Treasury
Eisenhower proposes tax cuts and relief in 1955 budget
The plan includes new deductions for caregivers of small children for widows and widowers, dividend tax rate reductions over three years, and up to 25 percent soil conservation deductions for farmers. It calls for shifting corporation tax payments to early in the year, extending lower rates, and liberalizing depreciation and reorganizations. The budget shows a $5.33 billion spending cut from the current year, with military and security programs bearing most of the changes, while the Army, Navy, and Air Force budgets are adjusted in varying degrees and foreign aid is trimmed.
MENTIONED IN THIS ARTICLE
Eisenhower
Free World
Congress
Senate
House
Ways and Means
Ways and Means Committee
Navy
New Jelly Like Formula Removes Baked Grease Fast
ITS oven cleaner restores grease free surfaces without scraping. The Central Store's Nation Dept sells ITS for $1 with a plastic brush, and the product is non inflammable and highly effective.
MENTIONED IN THIS ARTICLE
Nation Dept
Adv
Bear alarms Bingham resident during apartment fire
Calvin Miller awoke to a fire in his apartment and, while dressing to escape, grabbed the first item he touched. He ran outside in only a rug wrapped around him, exposing the unusual scene to neighbors.
MENTIONED IN THIS ARTICLE
Bingham
Utah
Calvin Miller
Reconstruction shifts cut defense housing and flood control
The plan increases defense housing to one million and civil defense to 68 million, while slum clearance rises to 48 million and relocation programs advance. Flood control and multipurpose dams receive 36 million, though this year spanned 416 million, and TPA’s budget climbs to 212 million from 195 million.
MENTIONED IN THIS ARTICLE
TPA
Also Mentioned on This Page
Ike
Vance Russell Middletown
U. S
Air Force
Orient
Africa
Latin America
William J. Miller
King Features
Tnc
Mr. Filbert
Pres
Mrs. Filbert
Mrs
Mrs. Filberts Margarine
Pel Es Per & Electric Company
Dohn’s
Sunray Gas
Ofertas
N. Broad
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