Excess Profits Tax Asked By Treasury Secretary Washington, Aug. 10.
The Secretary of the Treasury, Mr. Henry Morgenthau, Jr, yesterday forecast a record peace time deficit of approximately U.S.$3,700,000,000. He urged Congress to increase the Government's revenue immediately by enacting an excess profits tax.
The Under-Secretary of the Treasury, Mr. Daniel Bell, intimated that Congress must raise the present statutory debt limit from U.S.$49,000,- 000,000 to U.S.$58,000,000,000. He said approximately U.S43,100,0000000 of he current prospective deficit could be directly attributable to Government expeditures—United Press.
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