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The United States Revenue Act of 1951 temporarily increased individual income tax rates through 1953, and temporarily raised corporate tax rates 5 percentage points through March 31, 1954.
Excise taxes on alcohol, tobacco, gasoline, and automobiles were also temporarily increased through March 31, 1954. The 1951 Act added $5.4 billion to annual flow of federal tax revenue.[1]
References
[edit]- ^ W. Heller, Walter. "An Economist's Reflections on the Revenue Act of 1951". University of Minnesota Law School Scholarship Repository.
External links
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