RECORD TAX BILL

Marlborough Express, Volume LXXVI, Issue 242, 14 October 1942, Page 3

RECORD TAX BILL

LARGEST IN U.S. HISTORY.

! P.A.Cable

. WASHINGTON, Oct. 11.

The Senate unanimously passed the largest Tax Bill in United States ' history, increasing direct taxation by nearly 50 per cent. despite the heavy | burden imposed in the current year and augmenting the total direct taxation to approximately 25,000,000,000 dollars. The measure now goes on to the House of Representatives. Over-riding President Roosevelt's protest, the Senate adopted by 50 votes to 35 an amendment to the revenue Eill freezing social security payroll taxes for 1943 at the present levels of 1 per cent. for employers and employees alike. The Senate adopted a 5 per cent. victory levy, to be deducted from all individual incomes above 12 dollars a week. Coming on top of the unprecedented increase in the regular income taxes, this constitutes the largest increase ever imposed on the American taxpayer. Part of the victory levy will be credited to the taxpayer and repaid after the war. Single persons will be credited with 25 per cent., and married people with 40 per cent., plus 2 per cent. for each dependant.