| Show Administration Asks In hi New Tax levies Partisan Bi-Partisan Meet Agrees to Hike au Sees Every Avenue Employed to Bring in n i n Needed Cash WASHINGTON April 17 AP Secretary AP-Secretary Secretary an announced announced announced an- an Thursday that the administration and both Democratic and Republican congressional leaders had agreed to ask of new taxes to be raised in the next year He told reporters after conferring conferring confer confer- ring with the leaders that President President President dent Roosevelt had approved the program and would at an early date discuss the program with the American people Plan Tapping Every Means No details of how the money would be raised were disclosed but the treasury secretary Indicated indicated indicated indi indi- the government would tap tap every possible means Despite former policies of the administration he indicated such drastic means as a general sales tax payroll taxes and other heavy raising money ideas were under consideration For the first time in treasury- treasury congressional tax conferences during during during dur dur- ing this administration Republican leaders as well as Democratic leaders were called in said I am happy to say the combined Democratic and Republican leadership of the senate and the house gave unanimous unanimous unanimous approval program We re i d th this s fi figure ure Mor Mor- i said id on th the basis that we ought to raise at t least two- two thirds of our expenditures by taxation taxation taxation taxa taxa- tion and third one-third by borrowing We figure expenditures in the coming fiscal year beginning July I 1 will vill be about Two-thirds Two of that is We figure that existing taxes after adding to previous estimates on account of better business will bring us leaving us short of the amount of taxes we ought to raise See World orld Record I The secretary said he did not know how the tax program compared compared compared com com- pared with previous ones but he felt it was safe to say it might be the largest in the world Senator R. R Mich quipped he was breathless over the fact that he had been invited to the meeting Others present were Senators George D. D Ga and Walsh D. D Mass Chairman Doughton D. D N. N C C. of the house ways and means committee and Representatives tives Cooper D. D Tenn Cullen D. D N. N Y and Treadway R R. Mass Even after the taxes are levied continued the treasury treasury treasury treas treas- ury will have to borrow about a month to keep up with the huge expenditures for defense and the lend lease-lend pro pro- gramAn gramAn gram An ideal way to raise pro pro-I this money said would be to increase everybody's tax by one He indicated however a portion portion portion por por- tion of the new taxes probably would be raised from persons who paid no federal taxes this year While the major purpose of the new taxes will be to pay for expenditures expenditures expenditures ex ex- said another another another an an- other and very important reason reason reason rea rea- son was to to prevent rapidly risIng rising ris rising ris- ris ing prices and a c consequent in in- in nation l He e meant tha that the themore more mone the taRes government 1 takes taJes away Continued on Pai Four Column Five UI u. IS Si 8 TO REQUEST HUGE TAX HIKE Continued from Page One from the pe people in the form of taxes the less money people will have available for competitive purchases purchases pur pur- chases which might cause price rises rises This brought up the question whether the administration no longer would oppose forms of taxation taxation taxation taxa taxa- tion which restricted consumer purchasing power such as sales taxes The secretary declined to answer a direct question on this point and asked that he not be pressed on the point paint at this time Although congress has voted billions billions billions bil bil- bil- bil lions for defense until Thursday no definite effort had been made to draft new revenue legislation The house group was expected to begin hearings on a new tax bill soon Administration leaders have said the measure should raise between and 2000 Some members of or congress have urged even heavier taxes however however however how how- ever and many of those who opposed opposed opposed op op- op- op posed the administrations administration's to Britain program have promised to support substantial substantial substantial increases in existing rates oM |
