Res 914-54W;r'::][:,$, this City Councxl h:~s been [,dvised that t,,.. House
~-~m, Neans Com;nit~ee of the Jnited States Co~t~Pess~ Oll Jan-
,ropy 20~ ~954, ',)povisionally voted 'o ineluue in t~.
,:¢~ventto ;[ovisi,:n i~ill nf 1[~54 provisions w~ich woAld ,s',tbject to
~eder::l income l..~xation th,~ inlepes~ received From certain types
of m:mieipal r.,r,d state bn:-ds, r~,uelz ~
th,miry '~m:-s to is. ueo ~ - (o)
isa'md ~y states or ~m.mJ.e:ip::lities For in,h~strial d~velopment
an opn-infi we~ge in ~: att~,~pt ~o destroy the ,:or, stit:~tional tax
in~-m'~ity of state and municil)~'l bends, becnase if one type of
munieipr.! bond e}}n ]~e t;:xed it will not be long before :.11 will
~.s~ f municipal bonds can be t~,.xed, pre-
sently outstanaJng issues c~n also -be taxed; and the next step will
be an at, te;,pt to s~t,~j .ct t'he eve~ues of st~tes ~,nd municipalities
to Federal t~':xation; nnO
,. ,., ~, .... the tlDs()~dn.~'~ off ~e 2~ineiple of taxation attempt-
ed % ~,~ est;'b~iM~ed hy ~mb action of said C(~ngressional Co:mnittee
I.~es been established in the p,.st through Full an~i ext~*~ive
neo~_,,,:s ~',~for,~ e,):mnittees ,,f Cong~ess~ ~:,e latest bail~,- in 1551
ma~mu-e of t ].~ cl~ar~cter prnposed }~y the 3ecret.~,ry of ti~e
import ~o st~:tes ~nd :nmJcip~litJ. es '~ad ~e,::n settled For s,,m? time
to en,.e; and
,, ~,z .]l,v of the sr, vereign states alld i.,})eir political
' yt ..... ; ~ it~: war
,:,~,c,c~:'~t~l'lp,~ To :, i+f o" ~,~,¢: ,I',9~I*<~ {,, ~;0 ~V,;::l' ,tqit;L ',, ' ~;~
j.:~cJ.u,lr:~d i~ the qer~eral P', -~" " .;,,)4 provisions
,~cv ..... In ,i~vision :fill oF 1°~
dnlete ~-:ueb ppovisions Pt-nm s:jri trill, or tc aff:)rd state ~t'l~'i
e~p:~l oFFici: ls ~.~t ~,denur, te ~;d .F~ill },er~-':i.t~3 to ~Jve their
tion ~e tP~',nsmitte,q Fu,-t,. ~'Lh ~. L}~e City Clerk to each ~-~embeP
9aniel j. '-'~ecd,~ ."'ew York, C.'.[I.I. Jere Cooper~ Temiessee..
Themas .. Je~kins, r~j.,, Job~ ~. ~ingell, ill
~;Aehsrd '~. Si~l)~on, ~;en;sylv~r.;j.a Lilbur ,~. )!ills, f.rkans~s
)Itl Uo!'.~..,~ "i. fa'"'~''-~+ '~n '
~' .,,:.,,~s,.rm ~..oil ",. i(ing, Californi:>
.lohr', 'J. Pym~e!, Wisco~in Tl~,,mss J. ~'2rien, Illinois
&n~iet'- l_. ~,oot;wln~ ?,ss. ;l:tlf~ :~o&~,s, l]ouisivna
oward :~, ~:,;'kf~,, Tenp~essee
~hom~.s . Curtis, !'[issot.mi
Viet~,r .~. :.nox, ilichigan
,Ts?os '~. Utt, C:~lifornia
and
:., i~ .. ;~. ,-. ~U~,~i)L~:~ that a certifia(t copy [~ t'~is resolti-
t~o~ t)e tra. r,s~",itt, ed fr~rtbwith by the City Clerk to Senators :.;pessard
L. ito"land am~ 9aor~e . Smathers, and C(msress:~ien [:lmrles ',.
Ben;~ett, Courtney './. Ca~,plml!, .l:~'nes .~.. ]~-'ley, ~,. :;. .~;erlong, Jr.
Y~'~ . , ' ~,. ~ ~,.
~. ~[1 L2ntaFf, ~.]l L~2tthews, nwi~b.t L ~,ome~s and
witl~ our earnest req.~est th~]~t ea~l~ of thenz ase his v:i~oro~s and
wholehesrted efforts to 6 effect t%is ;~nd (.n~ ot~l,~
to subject inter,?s:t ree~ve~l From state a~d m~icipr:l bonds to
Federal
nea. cb, P!,~rid:,, o~: t.'.",.is the ~ Z.~'f' (lay of -2.~g.:~--~.~.,,--,rz t~<<_..i.D., 1954