Hostname: page-component-848d4c4894-m9kch Total loading time: 0 Render date: 2024-05-17T01:12:42.606Z Has data issue: false hasContentIssue false
  • English
  • Français

Federal Revenue Legislation, 1943–1944

Published online by Cambridge University Press:  02 September 2013

Roy G. Blakey  and
Gladys C. Blakey
Roy G. Blakey
Affiliation:
University of Minnesota
Gladys C. Blakey
Affiliation:
University of Minnesota
Get access Rights & Permissions [Opens in a new window]

Extract

The Revenue Act of 1943 will be remembered not only as the first one in history to be vetoed by the President, but also as the cause of an outburst in Congress against the executive capable of affecting the fortunes of the Democratic party in the 1944 elections. The significance of this last act in the drama (to date) may be clarified if we review the fiscal situation of the United States at the time, the Administration's tax proposals, and the revenue legislation actually resulting.

In January, 1943, the President's budget message estimated expenditures of $100 billion for the fiscal year ending June 30, 1944. Tax revenues for the same period were estimated at $35 billion. The President made three recommendations: (1) raise $16 billion in new tax revenue, or savings, or both, (2) simplify the income tax, and (3) put taxes on a pay-as-you-go basis. In the summer and fall of 1943, Congress enacted legislation to carry out certain parts of the last two proposals. Public discussion had forced on it some consideration of collecting taxes currently.

Type
American Government and Politics
Information
American Political Science Review , Volume 38 , Issue 2 , April 1944 , pp. 325 - 330
Copyright
Copyright © American Political Science Association 1944

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

1 To $500 for a single person, $1,200 for the head of a family, and $350 for each dependent (in 1943).

2 Public Law 68—78th Congress.

3 Public Law 178—78th Congress.

4 It is estimated that the tax of a married person with two dependents and having an income of $2,500, will be $19.60 greater in 1944 than in 1943, and the tax of a single person without dependents and earning $2,500 will be about $1.16 less. A married person earning $10,000 will pay about $80.87 more next year, and a single person with that income will pay about $18.65 less. The maximum increase of tax for any individual will be $84.00. (New York Times, Feb. 1, 1944.)