The 1942 tax bill reached its close to final form. The Senate Finance Committee completed its deliberations, heard the last argument, prepared to put its conclusions into the bill. Now 43,000,000 U.S. taxpayers—25,000,000 more than had to pay under last year's bill—could get a fairly accurate idea of what fighting a war would mean to their pocketbooks.
Income Taxes. Taxpayers can expect to file next March's returns on the basis of:
> Personal exemptions cut from $750 to $500 for single persons, $1,500 to $1,200 for married persons, $400 to $300 for dependents.
> Surtaxes boosted to 10% on the first $500 of...
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