The people's voice. [volume] (Helena, Mont.) 1939-1969, 1958-07-18
Repr. Leroy Anderson
Reports To You From
The Nations Capitol


tachment of unemployment insurance
payments or benefits by the Internal
Revenue Service for federal tax col
lection purposes. For 20 years prior
to the enactment of Internal Revenue
Code of 1854, Internal Revenue had
held unemployment insurance bene-
fits to be exempt from the tax col
lector. Then, under the 1854 Code,
some tax collectors started making
levies on state unemployment COM
pensation agencies. This interpreted
ton also resulted in tax levies on
Railroad Unemployment Insurance
benefits until Congress promptly re-
instated exemption to these railroad
benefits. / just can't see why an I'M
employed parent with children should
have Uncle Sam reach into the rela-
lively meager assistance for a bare
bread and butter living and take part
of it away. l hope Congress will ap-
prove this move to protect those
getting state unemployment benefits
until such time as they again are
employed and are capable
of meeting their income tax obliga-
tions again.
Small Business = T e House
towards the end of this week is due
to consider S 1861, the Small Bust
ness Investment Act of 1868. This
Senate measure introduced by Sena-
tor Johnson of Texas, would estab-
ish a program to stimulate and sup
element the flow of private equity
capital and long-term funds to small
business concerns.
Home Loans-My Committee on
Banking and Currency is engaged in
hearings on HR 10637, the Home
Loan Guaranty Plan. The U. s.. Saw
ngs and Loan League urged it's en-
actment in testimony this week, but
he American Bankers Assn. and
,ther bank. groups opposed the meas
Ire. The proposal would set up a
Home Loan Guaranty Corporation
which would insure the top 20 per
ent of 90 per cent of the appraised
value of house. The Savings and
loan League maintains that conven-
ional home loans provide the only
rea in which there is elbow room
or liberalizing credit. Home buyers
nder FILA insurance program need
own payments of only per cent on
ONES costing up to $13,500 and no
own payments are required on CT
ONE loans. On the other hand, buy Il
rs who use conventional financing
eed minimum down payments of
0 to 33 per cent of appraised value.
he Loan League urged reduction
0 10 per cent of the minimum down ;
ayments required of conventional |
ONE buyers. Bankers, on the other {
and, felt a better approach would {
e to free the interest rate on FILA i
lsured mortgages, and that more in {
crest rate flexibility be provided for g
HA and CT home loans. am in /
avor of any program which will
lcrease the flow of mortgage funds .
ito housing construction, and which /
ill enable home buyers to become ;,
ONE owners with modest down pay +
ents.
Military Training-As is customary I
Congress, the House has unani- P
ously granted me a brief leave of I
osence to attend army reserve mill P
ry training with the Goth Division
Yakima. There are many reservists :,
Congress who attend annual train ;,
g with the army, navy, Air Force ~
Id Marines as part of their obli- !.
ltion in defense of the nation. Con-
ess shares with state and local gov ~
as we'll as many industries A
is obligation by providing leaves
absence for the period of summer IL
lit field training. st
Mining-A program of price sup =,
rts for the mining industry =
AMMAN plan which has Administra-
m approval-has been passed by W
e Senate and soon will be brought ,.
in the House. This program is u
ned at helping our mining industry a
let foreign competition. 1t would III
Divide subsidies or stockpiling pro- 60
ans for tungsten, fluorspar, lead,
lc and copper. The bill is based on 81
Administration proposal to assure IN
bile prices to U. S. producers hard su