REPUBLICAN TAX BILL SOLIDLY OPPOSED BY DEMOCRATS
Washington, D.C. (JFK+50) On August 16, 1921, Joseph W. Fordney*, chairman of the House Ways and Means Committee, "asserted...the nation's tax bill will be cut $193,640,000 this fiscal year, $397,790,000 in the calendar year 1922, and $790,330,000 in 1923.
This translates into a savings of $35 "to the average family."
The New York Times reports that the Democrats plan to brand the Republican proposal "as a rich man's bill." The tax legislation was formally reported out of the Ways and Means Committee today with the Democrats "solidly against it."
*Joseph Warren Fordney (1853-1932) represented Saginaw County & surrounding area in Central Michigan in the US House of Representatives 1899-1923. JWF was co-sponsor of the Fordney-McCumber Tariff Act of 1922.
SOURCE
"New Tax Bill To Save Each Family $35," The New York Tribune, www.chroniclingamerica.loc.gov/
