TAXES: Incentive & Inequities

Chin set, Dan Reed last week rapped his House Ways & Means Committee to order and set it to work. Although there was a long, grueling job ahead, New York's Congressman Reed was in a satisfied frame of mind. Reason: the committee was beginning the final phase of its complete revision of the U.S. Internal Revenue Code, a pet project of Republican Reed, begun back in the summer of 1951. For six weeks the committee will meet in closed session to agree on changes in the code. Major changes approved last week: ¶ The entire code is to...

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