The Courier News from Blytheville, Arkansas on December 9, 1947 · Page 2
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The Courier News from Blytheville, Arkansas · Page 2

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Blytheville, Arkansas
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Tuesday, December 9, 1947
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Page 2
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PACK rwo BLTTHEY1LLB (ARK.) COURIER NEWS TUESDAY, DECEMBER », 194T GOP Readies Tax Cut Bill lor 1948 $5 Billion Reduction Sought; flection Year [ Seen Aid to Passage i •'•.•• I By Rcz Chaaey , (tTnHM Frees Staff Correspondent) i WASHINGTON, Dec. 8 <UP>— > Rouse Republicans were putting fin- j Ishinc touches on their 1948 person- i al Income tax reduct 1 n bill today I irtth the idea of beating President j Truman to the punch. I ' OOP merribers expect Mr. Tru- i man—1948 being an election yenr- ! to' recommend tax reduction legls 1 lation of some kind in his state of I the union message to Congress next I month. J Thic, feeling prevails among Rei publicans despite the coolness Mr t Truman and oilier administration ! leaders have shown to all tax re 'iduction proposals in the last feu i 'months. The president on two oc- [ casions earlier this year successful; ly vetoed the Republican plan to t cut Individual Income taxes, $4,000 ; 000,000 a year. ' The sponsor of the earlier GOP tax measures, Chairman Harold ' Knutson, R., Minn., of the Hous i Ways and Means Committee, als • will have his name on the new bill. : Under it he expects personal income taxes to be cut about $5,000, 000,000 annually, beginning with i IMS. • The Republicans don't plan to take up Knutson's bill during the current emergency session. But it will be on the calendar ready for consideration well in advance of Mr. Truman's scheduled appear' ance on Capitol Hill. Knutson said there would be no hearincs on his bill. "WeVe already had all the hearings weYe' going to have," he said. 'Exemptions np 1100 Under the "revised Knutson t«x tut plan, personal Income tax ex- emptions'would be Increased from »500 to $600. This, according to tax experts, would Uke 6,000,000 taxpayers oft the rolls. Another new feature of the proposal is to make community property tax benefits available to all taxpayers. At present only a dozen states- have laws authorizing a husband and wife to apllt their Income for tax purposes. This has the effect on reducing surtaxes In the middle income brackets. The general outline of the earlier Knutson bills—to cut taxes on * graduated basis—will be retained in the new proposal. But there will ;/ be modifications. Under the bills vetoed by Mr. Truman the tax cut would have ranged from to per cent in the low Income brackets to 10.5 per c?nt above »S02,000. Taxpayers in the mlddlo bracket* were to be given a cut of 15_or 20 per cent. Incorporation of the higher and community proper- the old ' Aloha Queen jasoline Price toosf Due Soon Two Arkansas Firm* Boost Quotations For Crude Petroleum Watchinj the festivities at tht Hawaiian lilands' flnt annual fall Icsllval, this little queen ol Alarm Week i> an impressive ad for Hawaii. She 1 ! wearing • pineapple-trimmed tun suit with a heart-shaped b|b. ! LITTLE ROC*, Ark., Dee. I. (UP) — Arkansas motorists today accd additional retail gasoline price rises, as petroleum producers raised Arkansas crude oil prices to •he highest level In the state's history. A two cents a gallon rlt* was predicted yesterday by Warren C. Platt of Cleveland, O., publisher of the National ePtroleum News. He tald the rise would actually help conserve petroleum products. Platt's statement louowed ai announcement by the Lion Oil »n. Root Petroleum Companies ot 1 Dorado boosting their prlc« 01 crude oil 50 cenU a barrel. In so doing, they standardlKd their prices with the Sun Oil Company. Arkansas prices now range from $233 to tf.30 a barrel, according to the specific gravity of the oil. The additional revenue to producers and royalty owners Is estimated about $40,000 dally, on the basis of an average daily production of 80,000 barrels. I Plntt commented that the crude oil price rises would not contribute to inflation spirals, He said the Increases were necessary if the industry is to cooperate with government reueqsts for higher production. However, he was critical of gor- trnment statement* that the price increases were unnecessary to effect a 6 per cent production Increase. He said oil producers will have to reinvest tome two or three billion dollars. : ederal Prison nmotes Protest Meatless Meals TAOOMA, Wuh.. Deo. t (ITM- Nearly 200 lnmat«» of Hie McNeil Island Federal Penitentiary today were in the third day or a hunger strike In protect against meatleu Tuesday and eigleai Thursday. Warden P. O. gquter uid the nser strike wai passive, ind the inmate* merely were refusing to go to the dining hall* at meal time. The resistance began Bun- day, h* tald.' Tlie varden Mid no Immediate action was contemplated to end the Ja»t. "I am Just waiting to se« what will develop In the next day or two," h« iald. Arkansas Electric Co-Op Gets Loan of $780,000 WASHINGTON, Dec. 8. (UP) — ly Rural Electrification Admin- stratlon has approved the follow- KVowNose Hfollp S» B lP»t-»B«'»>ad at- "»" SO per .. 4*R°!$ 1 ^ tn a taxable Income of 'SI \ te>'eit7,MO a year probsbly ! will'b"u : slated for a cut of only 16 or n per eent. W«o*fcer Forecaster Tires of\Talking About It; 'Sees a Substitute LITTLE ROCK, Ark., Dec. 8. 'UP) — Civilization has proved too much for an Arkansas weather forecaster, and he has decided to try a substitute. Weary weatherman Bill Hlgh- •mith said, Just before leaving for New Orleans and the Caribbean Sea, "civilization Is too much for me. I want to get away from It." The 23-year old employe ol the Little Rock Weather Bureau "said he was tired of routine living, so he applied for, and got, a transfer to Swan Island — where the only white men are ten weather observers. "One thing worries me," he salrl. "After I'm there a few weeks, I'll have told everyone my life's story— and I'll have heard theirs what'll we talk about?" Did someone suggest "the weather"? A few drop* of Vkks Va-Uo-nol In each DOS- TU works right where rouble is to open nose, relieve stuffy, tran- il»nt coog*stlon.Btlnii quick relief from snlSr, aneesy head cold distress. Try It I Follow directions In package. VICKSVA-1RO-NOL ing loans: Arkansas—Rlceland Electric Cooperative, Stuttgart, »180,000 for completion of previously approved construction and other construction Including 71 miles of distribution lines to serve 223 consumers. Virginia — Northern Piedmont Electric- Cooperative, Culpeper (190,000 for construction completecl with prior approval and for purchase and rehabilitation of headquarters facilities. trtfi^ GO tat* or 5c Right for active growing feet. Quality throughout. Solidly built to gir* helpful support needed i.. encourage good poeture... promote proper growth. Extra lonf wear make Boetoniam Ire. • ttriftjr buy. I White Elk $7.95 Rio Pact Ratified WASHINGTON, Dec. 9. (UP) — The Senate yesterday ratified the American Mutual defense treaty algned at Rio De Janeiro last September. Read Courier News Want Ads &. SONS SHOES YOU ARE CORDIALLY INVITED TO VISIT US IN CUR NEW JTCCE The Home Ot Good Shoes .... We endeavor to fit every pair correct^/ . • • -** PRESENTING TO YOU SOME OF THE FAMOUS NATIONALLY ADVERTISED LINES OF FOOTWEAR FOR MEN, WOMEN AND CHILDREN: THC YOUR FAMILY WILL KEEP ON ENJOYING Outboard of tht Yoar" MERCURY LIGHTNING Thit yt«i — n»»! Y»«T — f»r Y»«T« •* t*^ •"* V** end your family can *n|oy lh« llcuhtnf >pi>J —• mokhltn >n4ur>m> tl lh« 10 hp. tljhlnlnt. tt't (287.50 Miicuir KOCKIT MiKcunr COJMT ATVi hp. Iwln will! >?•••• A l!«ht 3.* h». •»*»w«1 and •tirfwranii f«i th» moil right at h«m* «ntht*v*r> <<>f *" !i*l MtrM •<•». Y»ll' «' . . . »137.75 bl« «f , , . 1183,00 HUBBARD HDWE. 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