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Wider Excise Taxes Likely Expanded in Congress
A House source says excise taxes will be widened and liquor taxes may rise to 12 per gallon. The plan targets about 16.5 billion dollars in new taxes as luxury items join the list. Congress may delay big tax increases until Truman’s 71.6 billion dollar budget is trimmed. Senator Byrd proposes cutting the budget by 7 billion and raising 9.5 billion in taxes instead of 16.5 billion.
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