THE CONGRESS: Bottom of the Tax Barrel

With the House off on a three-week holiday, Senators bent their backs to a grueling double chore. One was the job of cutting expenditures, in which President Truman, continually suggesting ways to spend money, gave little help. The other was to squeeze out of the taxpayers, without squeezing them dry, enough new funds to meet the huge Government outlays.

In one committee room the combined Foreign Relations and Armed Services Committees took up the Administration's request for $8.5 billion for foreign military and economic aid, from which the House had cut $1 billion (some $700 million from economic aid, $300...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!