Federal Government's Need of Additional Revenue
Tax Plane Advanced by Administration Rpublicane
The accumulating deficit of the federal government for the fiscal year 1932 stood at $463,171,554 on September 15, 1931. The deficit on the same date last year was $313,797,335, and the fiscal year ended with a total deficit of $902,716,845. If this year's deficit accumulates at the same rate as last year's, the fiscal year 1932 will end with a new deficit of $1,332,429,301.
The continuation through the first quarter of the present fiscal year of the downward trend in federal revenues, in the face of mounting expenditures, has diminished the hope that increases in taxation at the next session of Congress may be avoided. Demands for fresh appropriations for relief during the coming winter ...