Tax Expirations and the Federal Budget
Treasury Search for New Sources of Revenue
The desire of the Eisenhower administration to bring the budget into balance before the 1956 presidential election—in the face of continuing heavy outlays for national and international needs—makes it probable that new and increased excise taxes, on either a uniform or a selective basis, will be recommended to Congress in January. Secretary of the Treasury Humphrey has said a general sales tax is under study but that it is only one of some 40-odd proposals for raising additional revenue. Rising controversy over sales taxation caused President Eisenhower to announce at his Sept. 30 press conference that the administration did not plan to ask Congress to enact a retail sales tax. But he did ...