Harry Truman

I am deeply appreciative of the fine work which your Committee has done in calling to my attention the present condition of the aircraft industry and in carrying forward the compilation of Government aviation policy.

Your recommendation seems to me well taken.

The final recommendations of the Commission must, however, go beyond the limits of any one phase of aviation.

I am creating a temporary Air Policy Commission to make an objective inquiry into national aviation policies and problems.

A fair and proper revision of our tax structure should result in an equitable distribution of tax reductions.

This is still the wrong kind of tax reduction and this is still the wrong time to provide for tax reduction.

I return herewith, without my approval, H.R. 3950, entitled 'An Act to reduce individual income tax payments.'

Necessary Government expenditures are still high.

Until we are better able to estimate the cost of our investment in world peace and collective security, it is unwise to make so large a cut in our Government's future income that our ability to meet our needs would be impaired.

The present bill is not consistent with sound fiscal policy.

Maintaining the integrity of this debt is one of the primary obligations of the Government.

There is no justification for tax reduction so long as price stability at sound levels has not been secured and business, employment, and national income continue at peak levels.

Because of your knowledge of our national needs and our industrial capabilities, as well as your public-spirited concern for the national welfare, I ask you to serve on this Commission.

H.R. 3950 is at complete variance with the fundamental requirements of a good tax bill.

My position hasn't changed on that at all.

Did it have a cool reception? I didn't know that.

I have no comment on that because I don't know what's going to happen.

I couldn't answer you then because his name hadn't been presented to me at that time. It was presented and I thought he filled the bill, so I appointed him.

I don't think so. I have no engagements from now until next Christmas that I know of.

Now I am reappointing the three members presently on the National Labor Relations Board, Mr. Paul Herzog whose term expires in 1950, Mr. John Houston whose term expires in 1948, Mr. James Reynolds whose term expires in 1951, and J…

I am going to appoint the Honorable James Forrestal, the Secretary of the Navy; the Honorable Arthur S. Flemming, Civil Service Commissioner; the Honorable Dean Acheson of Washington, D.C.; and the Honorable George H. Mead, Dayton, Ohio…

A bold, comprehensive and fundamental review of all aspects of the organization and operation of the Executive Branch is required if our government is to be adequately equipped to meet the challenges it must face in a modern world.

I imagine that they will follow the usual procedure of the Railway Labor Act.

I will take care of that when it comes up.

Well now, the Economic Report is just like the veto message. It will speak for itself.