National Affairs: Tax Cut

What Mr. Mellon said about tax reduction, and what the House said, and what Mr. Mellon said next, and what the Senate then said, and what the Senate and House disagreed on, interested citizens less than what the Senate and House finally agreed on last week. Mr. Mellon's first "limit of safety," announced last autumn, was reduction of $225,000,000. The House promptly voted a reduction of $289,000,000. The Senate waited to see the April income tax returns. When these were known, Mr. Mellon reduced his limit to $201,000,000. The Senate then voted a...

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