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Show PAUL MALLON Tax Reduction Is Likely A DEMOCRATIC senator back from the Rockies says people are not much interested in tax reduction. His vote for the Truman veto was not protested pro-tested by his constituents. Other Democrats back this view. In fact, they back it so well as to suggest a concerted plan has been made to talk along this line. A Republican from the western farm belt found exactly the opposite situation, unsurprisingly, in his nearby state. He says people are alive to the needs of venture capital and tax reduction, and are not overconscious of the high public debt. Personally, I have found few taxpayers who were not interested in tax reduction. The Republican reports mean a reduction bill, possibly stronger than last year, will be enacted early in the session before the primary pri-mary elections, as Republican finance authorities in the bouse now are advertising. They may revise income base rates almost entirely, may make no difference w capital gains, although excises may be cut in half (from 20 down to roughly 10 per cent). Any bill undoubtedly will be retroactive until un-til next January 1. It will not get to Mr. Truman's desk until February or March, although Republicans are likely to make it the first order of business. |