Commitment to Revive Excess Profits Tax
Moving to fulfill a commitment entered into by Congress before it recessed six weeks ago, the House Ways and Means Committee will open hearings Nov. 15 on a new excess profits tax. The hearings will necessarily be brief, for Chairman Doughton (D., N. C.) has said it is the committee's intention to have a bill ready for consideration by the House before the end of November. Both the House and the Senate must proceed expeditiously if they are to complete action on the measure before expiration of the 81st Congress and avoid leaving the job to be started over again by the new Congress.
Reimposition of a tax on excess profits of corporations, five years after repeal of the wartime ...