U.S. TAX BILL

Rotorua Morning Post, Volume 1, Issue 186, 31 March 1932, Page 5

U.S. TAX BILL

i (Press AsSri.-

opposition endei)^ when speak!Mr;Makes appeal f.> -n : ; V,\i. * ?•: BUDGET MUST BE BALANQED

-"By' Teiegraph-AGopyrigbt.)

Rec.^dMa^| : ^0^ ; ' • • •• WASHI'NGTON, r-Tuesday.' j Appare.ntly ' f e elirig''tHh ! pr'esSiir'e of : fb'feigri fteahtioii thfbugh^he'H'elSy irt | balahcmg*'tlie " Budget)' thb 'Hdh'se of : R-eptesbhtativ'es :tb-tlaY the warning giveii by the Sp'eaker (Mr? Garner) in an impassioned address; deelaring- that the Budget must he balanced. • - The so-called insurgents imhieciiately dishanded and the House hurriedly passed a sei'ids df ahiendm'erits to thJ Tax Bill, consisting of a selectec? manufactiires excise tax, calculated to raise £31,600,000 as a start toward the replacement of the loss of £110,1 000,000 caused through the defeat of the saies levy. Mr. Garner, forsakihg the Speaker's stand for the first time, was enl thusiastically applauded throughout when he declared: "I bfelieve that the House must adopt an increase in tax^ es that will maintain the credit of the United States in the eyes of the world." • " It is gelierally beiieved that the attack on the dollar and also the widespread f eeling abroad that the country might forsake the gold stahdard; and other obvious indications of fears of the country's financial situation, prompted the speech, which was largely responsible for the favourable action by the House. The excise duties passed include a ten per cent tax on furs, jewellery and other luxuries, three per cent. oh automobiles, and two per cent. on trucks.