FINAL APPROVAL
US. TAXATION PLAN WASHINGTON, June 3. The House of Representatives and ’;he Senate approved of the pay-as-you-go Income Tax Bill, which is expected to receive the Presidential signature without delay. -• The bill provides for a 20 per cent reduction from the taxable part of all wages and salaries beginning on July 1, and also cancels 75 per cent of the 1942 tax liability of a majority of taxoayers. Taxes already paid in the current year against 1942 income tax would be applied in satisfaction of the first half of the 1943 taxes.
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Bibliographic details
Gisborne Herald, Volume LXX, Issue 21113, 5 June 1943, Page 4
Word Count
94FINAL APPROVAL Gisborne Herald, Volume LXX, Issue 21113, 5 June 1943, Page 4
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