Milford chronicle., 1934-09-21
APPOINTS BOARD To-
STUDY FRANCHISE TAX
fCanlinned tram Fi,il PAall

Gates that there will be a further
loss of several hundred thousand
dollars probably close to half mil
lion dollars, for the coming fiscal
year.
The operation of the State school
system is entirely dependent on
this source of revenue. With this
heavy decrease in the franchise tax,
and the fact that this revenue plays
such an important part in the edu-
cation of the children of the State,
Governor Buck decided to appoint
the commission to make a serious
study of the franchise tax situa-
tion, in naming the commission. Gov
ernor Buck endeavored to have all
angles of the situation represented
the tax angle, the school angle.
the corporation angle and the Sec
retary of State, through which the
charters are handled.
The franchise tax matter is said
to be perhaps the most serious of
the potential problems In cOnnec-
tion with finances of the State.
The organization meeting of the
commission will take place prob
ably sometime early next week. and
will be called by Secretary of State
Grantland. II is understood that
Governor Buck has asked him to
call the meeting.
The commission which Governor
Buck is planning to name next
week will consist of citizens from
all parts of Delaware, equally di-
vided between the two major po-
litical parties, who are familiar with
financial affairs and whose duty it
will be to make a study of the
revenues coming into the State
Treasury and the expenses of the
State government.
The chief purpose of the COM
mission will be to devise plan to
further deficits in the treasury will
be avoided. Its findings and recon-
will be submitted to the |
Governor and by him transmitted |
to the General Assembly when II !
meets in January. II is expected the /
Legislature will be asked 10 enact !
such measures as the commission |
deems necessary to carry into eff |
feet any changes which il may pro- !
pose in the States fiscal system.
Members of the Board of Budget |
Commissioners will meet in Dover |
on Monday or Tuesday to receive |
from the various Staae depart |
ments, institutions, commissions and |
boards. their estimates of their |
financial needs during the next fis /
cal biennium. This committee is
made up of Secretary of State |
Grantland. State Auditor J. Henry |
Hazel and Senator Carl Ray Van
SAINT. who was named last week by !
Governor Buck to fill a vacancy
created by the resignation of Rep
resentdtive Harry B. VanSciver.
Estimates received to date indi-
cate that the departmental esti-
mates are going TO be about 20 per
than they were for the
current biennium and that they will
total in excess of $1.OOO,OOO more
than the estimated revenues of the
State.
Ii is because of this situation that
Governor Buck is said to have de-
cided upon the appointment of a
to study the problem,
being determined that the budget
shall balance and TO avoid any
further deficit in the treasury.
Governor Buck is said to be op-
posed 10 any increase in taxes Of
my nature. and is firmly convinced
hat the revenues of the State at
his time and for some time to
ONE are adequate to meet all the
Of State government
Whether these revenues are TO be
eallOcated in order TO bolster up
unds now depleted and to avoid
luge unused balances in other
unds is one of the problems the
commission will have TO endeavor
o solve