“Under present laws lia'.f the existing excess profits tax w.'l automatically be dropped next June and the remaining half will come oil in June 195-5; 1 opposed the imposition of this Uix on even a temporary basis because it i- an unscientific way to raise sevenue and has a depre'sn.- ef.<-ei on busines. I believe tin tax should be allowed to exp,re. "We must realize, howe' er i hat the ending of this i. \ '.'.Ml ivri revenue for' the . -1 1 :seal' year, starting next July, by t>l.Oaj.oOJ - 000 and lor the !ov. ;nz fiscal year by a not he; Si.aOii.OOO.OOu “Before the end of fecal '."»•> the emergency 10 per cent tax on personal incomes is due to expire and that will nu .in a not h> r >700.000.000 drop in . Wn u following year c<-n. n exc: e taxi; ire due to expire at unit the:e are reimposed total feet nuc i • duction v.ill then oe mere tl .ut $8,000,000,000. “Our problem, then, : t< find ways to cut spending to match ; iese i i venue redut pi|u and t: > prevent further ckf.citji such as the one fur the current fiscal year which is <>• peeled to be in the neighborhood of $10,000,000,000. Senator Robertson t..!l be back on- the Senate Appropriation Committee where he will be pre sented the opportumuy to exe; - enabled us to cut an tivorsme of felt per cent off the becks . spend ing proposals in 195-'." The Virginia jtmii senal >r also feels the Congress ouxiir-d with a general air of coopt ration. lit1 writes; “Tho.se Deiioicral/.. in cluding most of at from he South, who have loud found mu - selves at odds v.itli Administra tion views on such matters as centralized government and cx , cessive spending, hope to bt nbie a work harmoniously with the Eisenhower Administration. Those (who felt that the accessary a - ! forms could be achiereid under t new leader of the Democratic party and those xv 10 fell that the uest solution was to reform this party by bringing about its defeat, are, in my opinion, j united now m wanting to give the ne\y execu • live every reasonable opportunity to soh e *! ie pressing prob ei . which face him. "We fully realize that not only the integrity of our economy but the very existence of our demo cratic form of government is at stake and that this is no time to play politics. “I am hoping that the same attitude will prevail in the Re publican ranks and that this will overcome th>> tendencies toward international isolationism and protection, of special interests tvhich traditionally made that party unacceptable in the South."

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