Last November, Secretary Mellon proposed a plan for tax reduction first edition. Subsequently the Ways and Means Committee revised the bill and approved it with not many major changes second edition. The House itself then got to work on the bill and made some considerable alterations, including the Longworth surtax rates (graded up to 37½%). Then the House passed the bill third edition. Last week the Finance Committee (of the Senate) completed work on the bill and left it again in altered form fourth edition.
There will probably...
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