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Tax Revision Proposes Sharp Cuts in Rates and Estates
Washington plans a broad tax revision with a maximum surtax cut to 25 percent and normal income rates trimmed. Proposals include repealing the estate tax, automobile taxes, art duties, and the publicity section of the income tax law. Secretary Mellon presented changes to the House Ways and Means Committee, aiming to cut the national tax bill by about 200 million dollars while cautioning against larger reductions.
MENTIONED IN THIS ARTICLE
Washington
Congress
Scretary Mellon
House
Ways and Means
Treasury
Mellon
Winston