Word: billing
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Dates: during 1950-1950
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After three weeks of public and private wrangling, the House Ways & Means Committee this week sent its excess-profits tax bill to the floor. The bill was not quite what the Administration wanted. It would raise somewhere between $3 billion and $3.4 billion at current tax receipts, as against the $4 billion asked by Treasury Secretary John Snyder. It called for a levy of 75% on all earnings above 85% of a company's average profits during its three best years between 1946 and 1949. The tax would be retroactive to July 1, 1950. No more than...
Though Republicans still called the measure "a pig in a poke" and "as imperfect as a bill can possibly be," the turn of events in Korea had improved its chances of passing. The House was almost sure to approve. Even the Senate, which has been dead set against an excess-profits tax in this session, might put a tax of some sort through by Christmas...
Automobile dealers whose sales had been crimped by credit controls last week discovered a way to loosen the clamp. Under the six-year-old G.I. bill they found that veterans who use cars in their business can buy them with Government-guaranteed loans, with up to two years to repay. Dealers who hadn't known or cared about the law before began offering "eligible veterans" new cars for as little as $257 down and $45 a month, about two-thirds the payments required under credit-controlling Regulation...
...isolationist, Ludlow believed that war could be prevented by taking away Congress' power to declare it, in 1938 almost got through a measure (the Ludlow amendment) that would permit a declaration of war only if the voters approved it in a referendum. Franklin Roosevelt intervened and the bill missed enactment in the House by 21 votes...
Except for its story, the show is very good. Sidney Stires' music is pleasant and sometimes more than that; there is one song, "Damsel in Distress," which is up to the standards of professional musical comedy. Bill Wheeling has written clever lyrics, even under the debilitating influence of the story...