Remarks by Senator Harry S. Truman Relating to Amendments to Renegotiation Law Contained in H. R. 3687
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OCR Page 1 of 12REMARKS BY SENATOR HARRY S. TRUMAN
RELATING TO AMENDMENTS TO RENEGOTIA' TON LAW
CONTAINED IN H. R. 3687, AS AMENDED BY THE
SENATE FINANCE COMMITTEE
RELEASE ON DELIVERY
JANUARY 21, 1944
RELEASE ON DELIVERY
The compromise proposals recommended by the Finance Committee are
a distinct improvement over the bill as originally reported. The changes
made by the Committee show a real understanding of the need for this form
of flexible price and profit control, and a realization that taxes alone,
no matter how high, will not adequately solve the problem. The changes
which have been made will, I believe, go a long way towards closing the
door to profiteering of any scandalous proportions, particularly if indus-
try continues to disply in the future the same fine spirit of cooperation
which has characterized the great majority of war contractors up to the
present time.
I shall therefore confine my remarks today, and the few amend-
ments, which I now urge, to certain serious administrative problems. There
are, I am glad to say, not very many, but certain administrative difficulties
of serious proportions will arise I believe unless amendments of the character
I now propose are incorporated into the generally admirable Bill which has
now come out of Committee. These administrative difficulties are:
First, there is a crying need for an available, self-administering
method of establishing reconversion reserves, in place of the requirement
that the renegotiators make allowances for reconversion requirements. Such
a solution of the reconversion problem is now pending in the form of a sub-
stitute amendment to the tax provisions of the bill, offered by me on Wednes-
day, January 19.
S RAUMAND NARA
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