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Ways and Means Committee in House Draws Tax Reform Clash
News reports show the Ways and Means committee amid a clash of interests led by Mellon Greene and Garner. Mellon seeks large surtax cuts and repeal of nuisance taxes while keeping the automobile tax, totaling about 290 million dollars. Garner pushes 300 to 500 million in cuts with a 5 thousand minimum exemption, except surtaxes. Progresives favor erasing nuisance taxes including auto taxes to aid small taxpayers and surtax payers after the small fry. The auto tax repeal draws auto makers and buyers, with a possible price cut. Menon warns against dropping the 5% auto tax too far, noting treasury reliance on wartime and postwar receipts as sources dwindle.
MENTIONED IN THIS ARTICLE
Ways and Means
House of Representatives
Mellon
Greene
Garner
Sccelay Mita
Menon
Treasury
War Finance Corporation
Coolidge