Word: fiscales
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Dates: during 1930-1939
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With these major changes in the President's fiscal philosophy as a background, the President's budget supplied details for the immediate future...
...estimates on the assumption that Congress will renew excise taxes which expire in June and July. Income taxes, which last year accounted for 42% of all revenue, are expected to suffer from a Recession hangover, but payroll taxes and miscellaneous internal revenues are expected to increase appreciably, so fiscal 1940's $5,669,000,000 income should be $149,250,000 better than this year...
Outgo. In fiscal 1940 the Government hopes to spend nearly half a billion less than this year-$8,995,000,000. With the world becoming unsafe for democracy again, biggest increase will be in national defense, and a real beanstalk in Franklin's garden is now interest on the national debt, which in 1940 will...
Rearmament. National defense expenditures averaged $782,000,000 in the last five years, came to $1,017,000,000 for fiscal 1939. For purely military uses. Franklin Roosevelt's regular budget last week included only $510,000,000 for the Army, but upped Navy $161,000,000 (mostly for starting two new battleships, two cruisers, eight destroyers, etc.) to a whopping $720,000,000. His big news on Rearmament was that he would this week ask Congress in a supplementary message for some $500,000,000 more. Biggest item...
Relief. Following the budget message the President asked Congress for an $875,000,000 deficiency appropriation to carry WPA through next June. This will bring fiscal 1939's WPA cost to about $2,300,000,000. For fiscal 1940 the budget calls for $2,019,000,000 to be allocated between WPA and other relief agencies...