Its Everyones Business

CHAIRMAN DOUGHTON of the House Ways and Means Committee announced on September 23 that the committee has scheduled public hearings on an excess-profits tax, beginning on November 15, 1950. In the meantime, the staff of the Joint Committee on Internal Revenue Taxation and the staff of the Treasury Department are to confer jointly on this question in the hope that such conferences may result in the preparation of a report on excess-profits tax proposals which could be used as a basis for testimony before the committee. It is thought that this procedure may aid in the draft of an excess-profits tax bill for introduction in the House when Congress reconvenes on November 27.