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President Vetoes
Bill To Repeal
20% Movie Tax
WASHINGTON, UR— President
Eisenhower Thursday vetoed a
bill which would have repealed
the 20 percent federal tax on
movie tickets.
It was the first major piece of
legislation Eisenhower has refused
to approve.
In a “memorandum of disap
proval” he said he was taking
this step because the government
cannot afford the loss of revenue
and “it is unfair to single out one
industry for relief at this time.”
The action amounted to a
“pocket veto”—that is, letting a
bill go unsigned while Congress
was not in session. This has the
effect of killing the legislation.
The President said repeal of the
admissions tax, which has been
in effect at the present rate since
April 1, 1944, would result in a
gross loss of revenue of $200
million, or a net loss of between
$100 and $200 millions a year
after allowing for a resulting in
crease in income taxes from the
motion picture industry.
Eisenhower said that because of
the need for revenue he had rec
ommended — and Congress ap- t
proved — a six-month extension
of the Excess Profits Tax. He
added that tax relief tor one in
dustry now would be “inconsis
tent with that action.”
The President went on to say
the ills of the movie industry are
caused largely by new forms of
competition rather than by the
admissions tax. And he noted
the price of tickets to the public
would have stayed the same even
if the tax had been repealed.
He said, too, that tax revision
studies have gone far enough to
allow him to recommend a reduc
tion in the movie tax next year.
The tax repeal bill passed both
houses of Congress.
The Agriculture Dept, has de
veloped a cotton yarn that will
dissolve in water, for basting
threads and other temporary uses.
Nome Directory
ROTARY CLUB
OF NOME
James Walsh, Pres.
George Bayer, Secty.
Thursday Luncheon
Northwestern Alaska
Chamber of Commerce’
Meets
EVERY TUESDAY NOON
Dewey Goodrich, President
ALASKA CHAPTER NO. 1
Order of Eastern Star
Dorothy Young
Worthy Matron
Rosa B. Hagen
Secretary
Meets the third Monday of each month.
LESLIE A. STEVENS
PUBLIC ACCOUNTANT
— 486 FIRST AVE. WEST —
Nome, Alaska
Phone Main 82 — P.O. Box 298
ANVIL LODGE
No. 140
Boyd C. Harwood, W.M.
Karl F. Dewey, Sec.
Meets 1st and 3rd Thursday each month