Legislative History of the Revenue Act of 1942 P.L. 753 H.R. 7378 V. 4 Part 2

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4 Part 2 Legislative History of the Revenue Act of 1942 P.L. 753 H.R. 7378 1 (1942)

handle is hein.leghis/lhenut0008 and id is 1 raw text is: 77m CONGRESS -
2H. R. 7378
IN THE SENATE OF THE UNITED STATES
OCTOBER 6 (legislative day, OCTOBER 5), 1942
Ordered to lie on the table and to be printed
AMENDMENT
Intended to be proposed by Mr. DOWNEY to the bill (H. R.
7378) to provide revenue, and for other purposes, viz:
Beginning on line 1, page 298, strike out all down to and
including line 11, on page 307, and insert in lieu thereof the
following:
1 SEC. 174. TEMPORARY INCOME TAX ON INDIVIDUALS.
2 (a) The Internal Revenue Code is amended by inserting
3 at the end of Chapter 1- the following new subchapter:
4 SUBCHAPTER D-VICTORY TAX ON INDIVIDUALS
5 Part I-Rate and Computation of Tax
6 SEC. 450. IMPOSITION OF TAX.
7 There shall be levied, collected, and paid for each
8 taxable year beginning after December 31, 1942, upon the
10-6-42-A