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House Speech Tax Bill, June 28, 1950
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House Speech Tax Bill, June 28, 1950
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Gerald R. Ford Congressional Papers
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The original documents are located in Box D13, folder "House Speech Tax Bill, June 28,
1950" of the Ford Congressional Papers: Press Secretary and Speech File at the Gerald R.
Ford Presidential Library.
Copyright Notice
The copyright law of the United States (Title 17, United States Code) governs the making of
photocopies or other reproductions of copyrighted material. The Council donated to the United
States of America his copyrights in all of his unpublished writings in National Archives collections.
Works prepared by U.S. Government employees as part of their official duties are in the public
domain. The copyrights to materials written by other individuals or organizations are presumed to
remain with them. If you think any of the information displayed in the PDF is subject to a valid
copyright claim, please contact the Gerald R. Ford Presidential Library.
Digitized from Box D13 of The Ford Congressional Papers: Press Secretary and Speech File at the Gerald R. Ford Presidential Library
m. CHAIRNAN. this team DESA So not altogother phoneing
to 130 Cor 10 too the in vidio in other cusos the
relief to under the and dospâte
the propossive 1 food the MILL should be approved.
I Intend to vote fee 11.11.8900 on find possage bub as to olso my
intention to the notion to providing. of course, each
n notion contrado the provisions horetedore released to the nechere
of the ninority.
this Segialation underbodly will nob to entirely
to may citisms to Hont and Officers Combission. my the time this bill
becones as 15 cood, the tux while my be "$00 Mottle and too late"
to 0000 realing entoryristas small who have been conholiting
pution restationes in the retuil banânce the may months- 10 to regrettichle
that the Administration has stalled off with this late hour
custom that rollef when as use cirrôms that conninctur>
tax concerns cast. their 1 beaution our citizens
throughout the nation could not to pay the cost pâna the youhibitive
federal excâse times on the offected and conváces vuntied and
nooded. the Invoiced emfoo Someo chould have heats reduced or
repenSed outly in 1909 curing the d'faut counton of the (Beb Congros.
the monbaro of the Bouse Constitue on Vegra and on
at to considere abbongted to resolts legislative action on
each VOTE relation on a strudght posty voto with the
Public norbero-en record against emiso the relief. AS a
of the moderSty party nation or lach of cotten
-2-
GERALD FORD LIBRARY
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hom has resulted to one occurang. vactions home Loot John.
both retail and maniforturing connomo. have (cono out of existance or
have outlived Bosses bommon of the continuation of these
Mch consumer tures. In addition. - have Serviços
parchase because they Just couldn't - the prises with these prohibitive
texts instruted. the blans for this delog shills organization on the shouldore
of the majority party Londership.
One of the trughties of this tom movioders Mill to the fullines
of the condition to a provision similar to a Mill interenced w
no in Summary. 1950, namely 15.11.602,5. Under our exteting foloml tax
Love home evistra are coverely pendical If and when a restrience is cold.
In other vonto. today is a house outste make as a price above his cost
be mot pay a tax on the mane but If the - home over colls his
realtime the a Loss. he cote no credit dow this loss 03 his tot
return. there So no justification for the continuation of
this unfode and insgaitable of such
this provision in one that ente has actually contribution
to the hounting shortage throughouth the nation. the excess
from a letter reserved to DO cobo forth whit has happened boaumes
of the enteting 2000 in this requed -
"Bare se our problems 10 boughts one passents home in 1919
for 54300.00. It to on house. moth too Lango for no state
002 children have left. 18 are in names nood of a mallion home. 00 as
aged states has como to Live with 150 the to entituting them as insumble
discoss.
i GERALD
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18 0023 our home for arrond 00000.00. and 10
will coot 130 all off that to tage another. 2756 the covernments engre
the diffilumento between what - pass cast what so colls for Sodoge
to - and taken a Imgo olsee 00 a "mpfill
"I - ISSUE that there are may follow of our GOD (wo are
beth state=five) who - having the - problem. and would be clos to
lot follow with groutng fundlies have thefter too-Ininge hance to being
up their Senthlee Sthe"
In addition may other offisens 020 penalized through DD
date of their on when they are formal to novo from one ct.tg to another
for Instruce The comple. as a ISSUES Lives in chânge whore be
custo a home for which be pasa 010,000 and he to transformed to bis
congony to around Regide. to must no11 the Chânge residence. ADDRESS
that he nolls for 022,000. Unier the yousent tott Save be to Mobio for
a cupital min - this tennection. Then to comos to firstal Imp&de to
outsblish & home for Me sendly he must expires buy a residence. If to
page 010.000 for his now be to inspitably penalised toth-
vâco otron though in mondity to to etaily enchanging and home for another.
this obvidene infastion in conpounded and rate the vozeo when you mulico
that if he eventually to to 0032 too a Loss no dellation to allowed
in hão that rotmme.
11.8.6015 or 5. cintles provision will 0000 dog be a part of
our that Ingislation. the morth so ench that to connot be Senered
the Long- N.B.6035 provides that se a - 11000 funds doctred from
the onlo of hão home for the putrohose of another no onto shall
to recognized for that parposes providing all mm/y derived from the mão
FORD & LIBRARY GERALD
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10 used for the purchase of the now home. Any profit not used for
the purchase of a now home, under the bill. venid be termible as before.
20 is difficult to 000 why such a provision sero not neceptable to the
connittoo.
In conclusion. : vish to B on record as favoring crotee
tax repond without any additional time of any corb. this procedure
could have been followed if the President and his party leadors had
made a sincere offort to federal organditures. havever. under
the circumstances, where there is no altornative because of the "men
rule proceduro. I shall support the pending logislative proposal Insuranch
no the decimble good provisions for outweigh the bill's bad foatures.
FORD & LIBRARY GERALD
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MR. CHAIRMAN. this tax bill &s not altoguther planning
to no for as coos too for in serve Instances vhile in other cases the
relief is inadequito. Neverver. under the not despite
the propossi's Inchings. I feel the comittee's bill should be approved.
I intend to vote for H.R.8920 on find passage but 10 to also my
intention to supports the notion to research providing. of course, much
e motion contains the provisions horotofore released to the members
of the ninority.
This logislation undoubtodly will nob to entirely entisfactory
to many citizens in Kont and Obtains Countion. by the time this bill
becomes law. if 10 coop. the that relief my be "$00 little and too late"
to nave many entorprising smll businessements who have been combitting
price restationes in the retail business for may months. It 10 regrettable
that the Administration has stalled off until this late hour
emise the relief when 10 visa perfectly obviens that various continctur-
any concorns and their westhere 17000 benefine our citizens
throughouth the nation could not offord to pay the cost plans the prohibitive
federal comôse times on the affected norchandise and services vanted and
needed. The Imposed emine tomo chould have boots reduced or
repenled carly in 1949 during the first senson of the 83mb Congross.
the Reyablican nonbero of the House Committee on Wages ond Honan on
at lenst two considens attempted to force much logislative action but on
each occunton wore rebutted on a strudght porty vote with the Democratic
Purty nonbers.ca record against imedinto emise tax relief. As a
consequence of the injority party nation or Inch of notion
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GERALD FORD VIBRARY
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Insurer has resulted to our commany. verliere have loot John, bustnesses,
both retail and mumfacturing concome. have (ono out of existance or
have suffered transadous Lonson becomes of the continuation of these
excessively high consumer taxes. In addition. consumers have foragone
jurchases because they just couldn't pay the prices with these prohibitive
texts included. the blane for this delog mile syncely on the shoulders
of the majority party londership.
One of the tragnities of this that revision bill is the failure
of the condittee to include a provision sindlar to a bill introduced tor
no in Summary, 1950, namely 5.8.6815. Under our existing fodoral tax
love home evants are severely penalised if and when a residence is sold.
In other vords. today if a home solls at a price above his costs
he mot pay a tom on the man. but If the some home ovner colls his
residence for a loss. he gots no credit for this loss on his Income teat
return. there is no justification whatscover for the continuation of
this uninir and insquitable treatment of such transactions.
This provision in one tax code has natually contributed
to the housting shortage througherb the nation. the following excerpt
from a letter received ty no note forth what has happened because
of the existing law in this regurd -
"flore 10 our problems to bought our procedub home in 1919
for 54000.00. It is on ofght-roon house, moh too Large for us otnoo
our children have left. 10 are in nagent nood of a maller home, as an
aged states has CODE to live with us who 50 them an insumble
discoss.
FORD i LIBRARY GERALD
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"UB could coll our home for 09000.00. and 10
will cost no all of that to buy another. mith the government engre
the difference between whit - pass cast what so sells for today
to "profit". and takes a Imgo alsoe 08 a "copital min".
"% - mure that there are may follow of our age (wo are
both state=five) who are having the ISSUED problem. and would be del to
lot folks with crowing funilies have their too-Large homes to bring
up their families Sn."
In nildation may other citisens are penalised through no
fould of their own when they are forced to EINVO from one city to enother
for Instance rensons. For emmple. if a ISSD lives in chicago where he
owns a home for which he paid 010,000 and be to transferred by his
company to Grand Repide, he must sell the Chânge residence. Address
that he sells for 812,000. Unior the present tax Love he is Mable for
a capital own on this transaction. When be conos to Grand Impide to
outsblish a home for his funily he mot again buy a residence. If he
1470 $32,000 for his new residence. he to insquitably penalized tott-
visa even though in reality he to stoply emolomating one home for another.
this obvieus injustice in compounded and nade for vorse when you realise
that if he eventually 10 forced to co31 for a Loss no doduction to allowed
in his subsequent but returns.
H.R.6815 or a sintler provision vill 0000 dogr be a part of
our foderal these legislation. Its north is each that 10 connot be Agnored
for Long- N.B.6015 provides that if a tespayer 11000 fundo derived from
the onle of hão home for the purchase of another residence. no min shall
be recognized for that purposes providing all money derived from the on
GERALD OFORD LIBRARY
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is used for the purchase of the new home. Any profit not used for
the purchase of a now home, under the bill, would be taxable as before.
It is difficult to see why such a provision VILO not acceptable to the
committee.
In conclusion, I wish to B on record as favoring excise
tax repoal without any additional taxes of any sort. This procedure
could have been followed if the President and his party lenders had
made a sincere effort to reduce federal expenditures, however, under
the circumstances, where there is no alternative because of the "gra"
rule procedure. I shall support the pending legislative proposal inseruch
as the desirable good provisions for outweigh the bill's bad features.
FORD i LIBRARY GERALD
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MR. SPEAKER, the construction of homes and apartments is being
seriously curtailed and hengered by the lack of action by the conferees
who are attempting to resolve differences between the House and Senate
versions of the housing legislation. We who live in the north have a short
enough construction season without having additional impediments placed
in the path of progress. The home construction industry in Western
Michigan and eleewhere can and will build a trenendous number of low
cost homes this spring, summer and fall but the builders need immediate
action on the P.H.A. extension legislation in order to construct the still
badly needed homes for veterans and others.
Title I of F.H.A. is particularly important to us in Michigan.
We have thousands who need to convert from coal to gas and oil heating
units. Title II loans must be expanded now, not hindered. 608 apartment
leans are still vital.
I an aliably informed that the home building industry is at a stand-
**111. Homes can't be started and as a result carpenters, plumbers, brick-
layers and all others who build homes are foreed into idleness. The lack
GERALD ORD LIBRAR
+
of new home starts is regrettable but the unnecessary unemployment is
verse. We need more homes, especially low cost homes. and
we also need the jobs. I strongly urge that the lendership good up
the House and Senate conferees 80 that roadblock can be broken. The
necessary action on F.H.A. is long overdue. The Administration is solely
to blame for the serious situation existing today. Some relief can come if
ve act promptly. The House and Senate cannot and should not recess ever
Easter or at any other time until the important legislation is finally
enacted.
I notice that the distinguished Chairman of the House Committee
on Banking and Currency. one of the conferees, is on the floor. Could
he tell the House when the conferees will probably bring back a conference
report?
FORD i LIBRARY GERALD
MR. SPEAKER, the construction of homes and apartments is being
seriously curtailed and hempered by the lack of action by the conferees
who are attempting to resolve differences between the House and Senate
versions of the housing legislation. We who live is the north have a short
enough construction season without having additional impediments placed
in the path of progress. The home construction industry in Western
Michigan and elsewhere can and will build a tremendous number of lew
cost homes this spring, summer and fall but the builders need immediate
action on the P.M.A. extension legislation in order to construct the still
badly needed homes for veterans and others.
Title I of F.H.A. is particularly important to us in Michigan.
We have thousands who need to convert from coal to gas and oil heating
units. Title II loans must be expanded now, not hindered. 608 apartment
leans are still vital.
I an aliably informed that the home building industry is at a stand-
still. Homes can't be started and as n result carpenters, plumbers, brick-
layers and all others who build homes are foreed into idleness. The lack
GERALD FORD LIBRARY
-2-
of new home starts is regrettable but the unnecessary unemployment is
werse. We need more homes, especially lew cost homes, and
we also need the jobs. I strongly urge that the leadership speed up
the House and Senate conferees " that roadblock can be broken. The
necessary action on F.H.A. is long overdue. The Administration is solely
to blame for the serious situation existing today. Some relief can come if
ve act promptly. The House and Senate cannot and should not recess over
Easter or as any other time until the important legislation is finally
exacted.
I notice that the distinguished Chairman of the House Committee
on Banking and Currency. one of the conferees, is on the floor. Could
he tell the House when the conferees will probably bring back a conference
report?
FORD & LIBRARY GERALD
speecher in House
(1) BANK A -
1949 January and February
-
273
-
practically all
1950 January and February
-
586
)
for cenversions
As of now 104 applications pending. All will lapse.
Reseiving numerous phone calls today.
(2) BANK B -
1950 January
- 220
1950 February
- 267
487
As of now 260 applications pending.
(3) BANK C -
1950 Jamary
- 102
1950 February
- 185
287
40% of Title I applications are for gas conversions.
32 out of 40 applications are for winterising.
GERALD FORD LIBRARY