Almost ready for the House last week was a new revenue bill to collect upwards of $200,000,000 in additional taxes. Secretary of the Treasury Morgenthau and the Ways & Means Committee spent long hours together putting the final touches to its provisions. As drawn the new rates will first apply to 1934 income. Prime provisions of the bill:
¶ Considerable juggling with normal and surtax rates which will alter tax return arithmetic but make little cash difference to taxpayers. Taxes will be a trifle lower for married men, a trifle higher for single persons.
¶ Restoration of a 10%...
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