COMMITTEE ON WAYS AND MEANS. EIGHTY-NINTH CONGRESS SECOND SESSION ON H.R. 15942 and H.R. 15943 CARD DIVISION 'TO IMPOSE A TAX ON UNRELATED DEBT-FINANCED INCOME (68-344 AUGUST 29, 1966 Printed for the use of the Committee on Ways and Means 87 U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1966 CONTENTS Commissioner of Internal Revenue v. Brown et al., certiorari to the U.S. Court of Appeals for the Ninth Circuit, No. 63, argued March 3, 1965; decided April 27, 1965 (Supreme Court decision) Text for H. R. 15942 and 15943. Press release, dated June 27, 1966, announcing that Chairman Wilbur D. Mills (Democrat, Arkansas) and Hon John W. Byrnes (Republican, Wisconsin), ranking minority member, Committee on Ways and Means, introduced identical bills directed to problems under the Clay Brown Press release, dated August 17, 1966, announcing public hearings on H.R. 15942 (Mills) and H.R. 15943 (Byrnes), bills to impose a tax on un- 13 16 17 STATEMENT OF GOVERNMENT OFFICIAL STATEMENTS OF PUBLIC WITNESSES Scott, H. Vernon, president- Saperstein, Nathan, president, National Council of Young Israel... Scott, H. Vernon, president, National Tax Equality Association......- - Weithorn, Stanley S., New York State Bar Association (tax section, com- MATERIAL SUBMITTED FOR THE RECORD American Council on Education, statement. American Institute of Certified Public Accountants, Donald T. Burns, Burns, Donald T., general chairman, committee on Federal taxation, Committee for Reasonable World Trade Center, Lawrence A. Wien, Gold, Leon, director of tax research, Research Institute of America, Inc., Investors League, Inc., William Jackman, president, letter dated September Jackman, William, president, Investors League, Inc., letter dated Septem- Latham, Dana, Los Angeles, Calif., statement_ Magee, P. J., vice president, National Propane Corp., letter dated Sept. National Propane Corp., P. J. Magee, vice president, letter dated Sept. |