TAXES: Program for Growth

President Eisenhower's budget message was full of tax changes and reforms, to encourage business expansion. "The recommendations," said the President, "will promote investment, which provides new and better methods of production, and creates additional payrolls and more jobs."

The most important recommendation dealt with faster amortization of new plant and machinery, a device that sped the growth of defense industries during the war and postwar period. Eisenhower now proposes this change for all industry. A day later, the plan was approved by the House Ways and Means Committee. The change would double depreciation...

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