Report Outline
Current Efforts to Curtail Exemptions
Intergovernmental Tax Exemptions
Tax Exemptions as Form of Subsidy
Subsistence Tax Exemptions
Current Efforts to Curtail Exemptions
Administration Proposal to Tax Public Securities
Steadily mounting demands upon public treasuries, and the threat of heavy tax increases for the future, have led American legislatures in the last few years to display a stronger resistance to pressure from private and quasi-public interests for exemptions from taxation. At the same time, legislative bodies have shown a disposition to reexamine exemptions previously granted, in order to correct inequities in the tax system and to widen the tax base. As Frederick L. Bird of Dun and Bradstreet observes: “Public budgetary requirements have become too urgent and expensive to permit the extension of tax exemption favors in the casual manner so often characteristic of the past.”
With approval of the Public Salary Tax Act in 1939, Congress extended the application of the federal income tax to employees of state and local governments and granted the states and localities permission to tax the incomes of federal employees. Legislation to remove the tax exemption privilege from interest paid on future issues of federal securities, and to permit federal taxation of income from state and local securities, will be sought by the administration at the present session.
Two measures to deal with the problem of tax-exempt securities have already been offered in the 77th Congress. A joint resolution by Rep. Kean (R., N. J.) provides for submission of a constitutional amendment to authorize reciprocal taxation of public securities; a bill by Rep. Tenerowicz (D., Mich.) proposes to authorize such taxation by legislative fiat. The Tenerowicz bill would permit taxation of income from all public securities issued after September 1, 1939. The Roosevelt administration has opposed retroactive taxation, however, and Secretary of the Treasury Morgenthau disclosed, January 6, that the Treasury was preparing its own bill on the subject. |
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Feb. 07, 2020 |
Hidden Money |
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Jun. 28, 2013 |
Internet Shopping |
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Jan. 16, 1998 |
IRS Reform |
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Mar. 22, 1996 |
Tax Reform |
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Apr. 06, 1990 |
How Fair Is the Nation's Tax Burden? |
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Aug. 28, 1987 |
Taxing Business Services |
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Oct. 17, 1986 |
Tax Reform In The States |
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Sep. 28, 1984 |
Tax Debate: 1984 Election and Beyond |
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Mar. 19, 1982 |
Tax-Exemption Controversy |
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May 19, 1978 |
Property Tax Relief |
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Apr. 07, 1978 |
Tax Shelters and Reform |
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Feb. 10, 1971 |
Property Tax Reform |
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Mar. 26, 1969 |
Tax Reform Pressures |
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Mar. 24, 1965 |
Excise Tax Cuts and the Economy |
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Feb. 15, 1961 |
Flexible Taxation |
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Apr. 02, 1959 |
State Tax Problems |
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Apr. 23, 1958 |
Tax Reduction, 1958 |
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Aug. 14, 1957 |
Fast Tax Write-Offs |
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Apr. 10, 1957 |
Federal Payments in Lieu of Taxes |
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Sep. 12, 1956 |
Corporation Profits and Taxes in Prosperity |
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Mar. 16, 1954 |
Shares in Tax Relief |
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Nov. 21, 1953 |
Revision of Excise Taxes |
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Mar. 19, 1953 |
Federal-State Tax Relations |
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Oct. 01, 1952 |
European Taxes and Tax Evasion |
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Nov. 03, 1950 |
Excess Profits Tax |
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Feb. 01, 1950 |
Tax Loopholes |
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Jun. 04, 1949 |
Excise Taxes |
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Oct. 27, 1948 |
Postwar Sales Taxes |
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Aug. 29, 1947 |
Taxation of Family Income |
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Apr. 09, 1947 |
Income Tax Relief |
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Jan. 11, 1946 |
Taxation of Cooperatives |
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Oct. 16, 1945 |
Federal Taxes on Business |
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May 08, 1944 |
Postwar Taxes |
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Sep. 20, 1943 |
Sales Taxes |
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Dec. 05, 1941 |
New Taxes for Defense |
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Apr. 05, 1941 |
Taxation for National Defense |
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Feb. 28, 1941 |
Taxation of Alcoholic Beverages |
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Jan. 11, 1941 |
Exemptions from Taxation |
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Dec. 04, 1940 |
Federal Taxes and Defense Financing |
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Feb. 01, 1940 |
Sharing of Tax Revenues |
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Feb. 02, 1939 |
Turnover Taxes in the States |
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Nov. 05, 1937 |
Broadening of the Income-Tax Base |
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Jun. 17, 1937 |
Exemptions from Income Taxation |
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Apr. 05, 1937 |
Coordination of Federal and State Tax Systems |
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Dec. 19, 1936 |
Revision of Federal Tax on Capital Gains |
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Nov. 02, 1936 |
State Taxation of Natural Resources |
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May 26, 1936 |
Assessment of Property for Taxation |
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Apr. 17, 1936 |
Federal Taxes on Consumption |
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Mar. 19, 1936 |
Taxation of Undistributed Corporate Profits |
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Dec. 17, 1935 |
Reduction of Tax Burdens on Real Estate |
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Oct. 21, 1935 |
Tax Delinquency in the United States |
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May 21, 1935 |
Comparative Tax Burdens in America and Britain |
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Feb. 01, 1935 |
Federal Taxation of Corporations |
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Nov. 27, 1934 |
Elimination of Conflicts in Taxation |
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Jul. 25, 1933 |
Taxation of Excess Profits |
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Jan. 25, 1933 |
Tax Burdens and Tax-Free Securities |
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Nov. 23, 1932 |
The Beer Tax and the Sales Tax |
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Dec. 19, 1931 |
Sales Taxes: Federal, State, and Foreign |
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Sep. 18, 1931 |
Death Taxes and the Concentration of Wealth |
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Mar. 18, 1931 |
Federal Taxation of Large Incomes |
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Jan. 10, 1931 |
Taxation of Capital Gains |
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Nov. 09, 1929 |
Federal Tax Reduction-1930 |
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Aug. 08, 1927 |
Federal Tax Reduction—1928 |
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Sep. 27, 1926 |
Tax Reduction and the Public Debt |
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Jan. 16, 1926 |
Taxation of Estates and Inheritances |
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Nov. 07, 1925 |
Federal Taxation of Small Incomes |
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Nov. 28, 1924 |
Social, Fiscal and Legal Aspects of the Inheritance Tax |
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Apr. 07, 1924 |
Causes and Effects of the Tax Return Blockade |
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Dec. 12, 1923 |
Tax Exempt Securities |
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Dec. 10, 1923 |
Taxation |
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