TAXATION: Law-in-Making

The egg of a butterfly grows into a larva, and the larva converts itself into a pupa all bound up in its chrysalis, and finally the bright winged imago emerges. But the egg is separated from the imago by no wider span or stranger transmutations than there are between a tax bill in its first hearings before the Ways and Means Committee and a tax law duly enacted by Congress and signed by the President.

The Process. Last week the Ways and Means Committee set to work in earnest upon the tax reduction law...

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