The bill's provisions include funds for the construction of 18,422 airplanes, of which 4,028 are for the Navy. This will bring the navy's total number of planes to 10,028, The bill's provision for 14,394 planes for the y makes the latter's total force The bill appropriates U.S.$352,000 for improvements on Guam Island, including U. 8277,00 for quarters and U.S. 875,000 for hospital facilities. Hawaii will receive US 51. 200.000, Midway Island U.S.$535,500 and Alaska U.S. 5160.00 for improvements.
Meanwhile, Administration leaders predicted that the House would approve the defence amortization and excess profits tax bill modifying the law limiting profits on navy contracts, The tax bill imposes a 20 to 50 percent tax on excess profits during the next five years and also provides that e. orations expanding factories or building new ones for defense purposes may amortize them through tax savings over a five year period.
The bill is designed to prevent the creation of war millionaires and to speed up the defence programme by removing businessmen's tax uncer-fainties and encouraging the struction of facilities for defer materials.
Text read from the printed page and cleaned; old type leaves the occasional error.