Word: doughton
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WASHINGTON--Federal taxes should be increased next year sufficiently to balance non-defense government expenditures, Chairman Robert L. Doughton of the House Ways and Means Committee, said today after conferring with President Roosevelt...
...conference committee under Administration pressure (TIME, July 1). The conferees had asked the Treasury for its idea of a good excess-profits bill by Oct. 1, and few Congressmen expected to have to face the problem until then. Suddenly, the same day that their tax leaders (Senator Harrison, Representatives Doughton and Cooper) were invited to the Treasury to talk excess profits, the President uttered his 85 words. Congressmen wondered what had made him change his mind...
...last week,'a bare five months before the 1940 elections, Republican Bruce Barton informed his colleagues in the House: "Our people today are in a mood for self-sacrifice. The desire to do something, to give something is well-nigh universal." Recognizing this spirit, Chairman Robert L. Doughton's Ways & Means Committee proposed to give about 8,336,000 more U. S. citizens the opportunity of filing a Federal income tax return, to give some 2,000,000 of them an opportunity actually to pay. "Muley" Doughton & colleagues proposed to lower the minimum taxable income from...
Equally significant was the Republican minority's strategy. Nine of the ten G. 0. P. Ways & Means committeemen abstained from voting-but not because they opposed new taxes. The Republicans thought the House should go much further in overhauling and broadening the tax structure. Democrat Doughton agreed in principle, promised to attempt a major overhaul (including additional taxes on excess Defense profits) at the next session of Congress...
Secretary of the Treasury Morgenthau explained to Muley Doughton's committee why the new taxes are necessary. Even before the President upped his emergency Defense estimates by $1,000,000,000 plus (see p. 77), the expected deficit for fiscal 1941 stood at $3,703,000,000. This prospect in itself was nothing new. But, said Mr. Morgenthau, the U. S. Treasury as of last week could borrow only $1,973,000,000 more without cracking the $45,000,000,000 debt limit. In consequence the Secretary, Muley Doughton and Pat Harrison asked Congress to up the limit...