Medicine: New Tax Reduction

To help speed money for medical research, President Eisenhower signed into law a bill liberalizing income-tax provisions about contributions to medical research organizations. The new bill permits the taxpayer to make deductions for an additional 10% of his gross income (above the basic 20% allowed for contributions to charity) when the additional money goes to organizations continually engaged in research with hospitals.


Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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