North Cache News | 1941-07-04 | Page 1 | New 7 per Cent Auto Tax would Raise $79,900,000

New 7 Per Cent Auto Tax Would Raise 879,900,000 WASHINGTON Members of the house ways and means committee agreed tentatively Monday to recommend rec-ommend a seven per cent tax on sale of new automobiles, which would produce about $79,000,000 of new revenue, instead of the 15 per cent levy proposal by the treasury. treas-ury. Committee members said a spirited spir-ited fight preceded agreement on the lower figure and that a compromise com-promise 10 per cent tax was also defeated. Chairman Doughton, (D), N. C, while declining to make public the committee's action, prom-'lsed prom-'lsed a full statement later In the day and there were indications , that the group might complete ac-j ac-j tion on excise taxes the only un- finished phase of the new $3,500,- 000,000 tax program.