Word: repeals
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Dates: during 1940-1949
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Ashurst's legislative road was an amiable meander. He voted both for the 18th Amendment and for its repeal, he voted twice for the soldiers' bonus, twice against it. Colleagues complained that his expressed views were contrary to the principle of Franklin Roosevelt's Court-packing bill, but that when the controversial bill came to Senator Ashurst's Judiciary Committee he defended it. Was that consistent? Said...
Soon after Repeal, licensed New York retailers formed the Council, whose 900 members are 80% of the city's stores, half all those in the State. Already semi-monopolies because of State licensing laws, councilmen saw a chance to make real money when the Feld-Crawford Act was passed. Negotiating with the distillers, they obtained a uniform 40% retail markup, a 4 to 20% discount for large purchases besides. Under this scheme Council members could buy $1 liquor from the distiller for as little as 80?, resell it for $1.40, while their operating costs averaged less than...
Having heard that U. S. Steel, Boeing Aircraft, other leading Defense producers were delaying construction of urgently needed new plants, the U. S. waited last week for two acts of Congress: 1) a 20%-a-year depreciation allowance for tax purposes on new Defense plans; 2) repeal of that part of the Vinson-Trammell Act which sets an 8% ceiling on aircraft and shipbuilding contract profits. The Administration had spoken for both measures. The Defense Advisory Commission was for them. So was business. So was the President...
...decided to attach the excess-profits tax like a price tag to the package business wanted. Last week, Congress' tax-originating body-the House Subcommittee on Internal Revenue Taxation-sent package and tag to the House Ways & Means Committee. In the package were the 20% depreciation allowance, the repeal of the Vinson-Trammell restrictions, as expected. Business' eyes fastened fearfully on the price tag. It was surprisingly...
...coddled profits instead of taxing them; they talked of boosting the top bracket rate from 40% to 82%. They also disliked Choice i, on the grounds that it would let slip the most profitable corporations. But their biggest objection was to the 20% depreciation allowance and the Vinson-Trammell repeal. Calling the latter "bribes" to induce manufacturers to do their duty under the Defense program, they would have preferred to hand business a bigger price tag with no package at all. Objection 2 came from the conservative wing, some of whose members also objected - for a different reason - to tying...