| Show I Congress May Up Taxes Despite Political Turn WASHINGTON Nov 9 UP 1 W- W j I Congress may increase taxes again perhaps to the highest level jon ion j i on record notwithstanding the turn of political fortunes in Tuesdays Tuesday's rues Tues days day's elections The tax tae issue issue on on a multi-billion multi dollar war excess profits levy Is levy is scheduled for consideration when the present congress reconvenes Nov 27 21 The idea back of it is to prevent profiteering curb inflation and provide money moncy for guns In the face of vast ast spending in inthe inthe inthe the Korean war and threats of other Communist aggression ag elsewhere elsewhere elsewhere else else- where tax policy has taken on some sonic bipartisan aspects When hen congress adjourned in I September to get tret ready for 01 the J 1 elections some some top top Republicans Republicans- as well as Democrats Democrats were were callIng callinS' callinS calling call- call Ing inS for a you pay plan to finance the huge rearmament program pro pro- gram Taft Leads Move Sen Taft the senate Republican I policy chairman who won I tion by a thumping vote vole in Ohio was a leader in this move With him were such Democrats as Sen Byrd of Virginia Thus tax tae policy appears to have been taken out of the sphere of Fair Deal legislation although prior to the Korean war some Republicans Republicans Republicans Re Re- publicans had accused the administration administration admin admin- Istra tion on many occasions of seeking to use the taxation powers to socialize the nation The attitude of top Republicans and Democrats who survived Tuesdays Tuesday's Tuesdays Tuesday's Tuesdays Tuesday's Tues Tues- days day's election seems to be that rising taxes must accompany the growing SlOwing costs of building armaments arma arma- armaments ments against communism la l May Differ Sharply But attitudes may differ sharply sharp sharp- ly when they get down to writing the details of oC new tax legislation Congress by overwhelming votes just before it quit in September I boosted individual and corpora corporation tion taxes by 4 a year bringing the annual tax load to about And an agreement for adjournment was blocked until the lawmakers wrote into the tax bill a stipulation that the house ways and means and senate finance committees would have a big big- excess profits tax lax measure ready when the lawmakers ers returned The house ways and means committee committee committee com com- will open public hearings next Wednesday on tax propos proposals ls |
