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6 Tax Foundation's Washington News 1 (1954)

handle is hein.tera/wingnews0008 and id is 1 raw text is: RECEIPTS ..$26.9 NDITURES . .. 3603 Jamnn)ry 8, 1954 Vol. N*. BALANCE $,9,4 920 Washington Building Washington 5, D. C. -, Initial reaction to the PresidentIs State of the Union message to the Congress was neither as great nor as sharp as that which has greeted some such messagesof past years. Those sections dealing with foreign policy and defense seem to have been generally well received, but there has been remarkably little comment thus far on domestic issues discussed by the President. The primary reason for this is clear-only a dozen or so specific recommendations were included; detailed proposals on most of the contro- versial areas were left to a series of special messages to be sent to Congress in the next few weeks. On January 11 the President will sub- mit two messages, covering Administration farm program proposals and suggested amendments to the Taft-1iartley Act; on January 14 a social security-welfare message is scheduled; the Administrationts health pro- gram will be outlined on January 18; the budget message will be sub- mitted January 21 (and will include 25 tax revision proposals); on January 25 a housing message is scheduled; and the economic report will be sent to Congress on January 26, Among the specific recommendations made by the President were: (1) renewal of the requiest for an increase in the statutory debt limit; (2) postponement of scheduled reductions in the corporate income and certain excise tax rates-<the Administration has dropped its opposition to the -2 percent increase in the CASI tax which took effect January 1); (3) a call for prompt approval of the St. Lawrence Seaway project; (4) renewal of Administration proposals for postal rate increases; (5) extension of unemployment compensation benefits to some 61 million workers, including Federal employees; and (6) extension of old-age and survivors insurance coverage to more than 10 million additional persons, as requested earlier$ The President's discussion of taxes and expenditures, as always, drew special interest. His brief preview of the fiscal 195 budget seems to point to expenditures of around $67 billion in that year--a prospective two year drop of 312 billion. Defense expenditures, as usual, will probably provide the key to the budget situation. Prior to the President's recent conferences with legislative leaders there were repeated reports of a probable fight on some of the defense spending reductions contemplated by the Administration. Whether the President has been or will be able to satisfy these critics of defense cuts remains to be seen.

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