House Committee Rejects Proposal to Tax Mutuels, Daily Racing Form, 1950-05-11


view raw text

House Committee Rejects Proposal to Tax Mutuels WASHINGTON, D. C, May 10 UP.— The House Ways and Means Committee today rejected a proposal to levy a 5 per cent excise on pari-mutuel race track betting. It was estimated that such a tax would yield 5,000,000 to 0,000,000 a year in revenue. The proposal was advanced as one means of offsetting part of the ,100,000,000 cut in federal excise taxes, already tentatively approved by the committee. Members explained that they turned down the pari-mutuel tax on the theory that it is an important source of revenue in some states and should be left to the state exclusively.

Persistent Link:
Local Identifier: drf1950051101_5_5
Library of Congress Record: