2D SESSION Printed for the use of the Committee on Ways and Means UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON: 1933 NOTE. This report has been ordered printed for purposes of information and discussion, but it has not yet been considered or approved by the committee or any member thereof. 841448 III LETTER OF TRANSMITTAL WASHINGTON, December 29, 1932. Hon. JAMES W. COLLIER, Chairman Committee on Ways and Means, House of Representatives, Washington, D. C. MY DEAR MR. CHAIRMAN: There is transmitted herewith a preliminary report on the subject of Federal and State taxation and duplications therein. At the close of the first session of the Seventy-second Congress, the Committee on Ways and Means authorized and directed the appointment of a special subcommittee for the purpose of making a study of Federal and State taxation with particular reference to the duplications which occur through overlapping authority. A committee of five members was named, of which I have the honor to serve as chairman. Your committee adopted a program of procedure which contemplated three major steps, to wit: (1) The preparation of a preliminary report containing basic data on Federal and State taxation; (2) the holding of public hearings; and (3) the submission of a final report with suggestions for improving our taxation system. The accompanying report, which has been prepared by the staff of the Joint Committee on Internal Revenue Taxation at your direction and at our request, thus represents the completion of the first part of our program. Your committee has given general consideration to this report and recommends that the same be printed in order that it may form a basis for an effort in the direction of eliminating double taxation, duplications, and overlapping. It is also hoped that it may form a basis for a revision of our taxation system as a whole in order that the tax burden may be more equitably distributed. Inasmuch as the report submitted concerns itself almost entirely with presenting facts, it was unnecessary for the Subcommittee on Double Taxation specifically to approve or disapprove of the report as prepared by the staff of the joint committee. However, we are in substantial agreement with the statements contained therein. Respectfully, FRED M. VINSON, Chairman Subcommittee on Double Taxation. V |