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THE GENERAL C O U N S E L OF THE

TREASURY

WASHINGTON

October 2, 1942

Dear Karriner:
For your information we are enclosing
herewith a copy of Section 515 of the Senate
print of the Revenue Act of 1942- This
section adds new Section 5012 to the Internal
Revenue Code. I believe you will be concerned
about the provisions of this section.
This draft section was prepared without
the knowledge of the Treasury and we did not
hear of it until it was submitted as a part
of the printed drafted bill at the Committee
hearing this morning.
Sincerely yours

Randolph E. Paul
Honorable Marriner S. Eccles,
Chairman of the Board of Governors of
The Federal Reserve System,
Washington, D. C.
Enclosure




SECTION 515. JOIST COMMITTEE OH INTERNAL REVHIUE
TAXATIOIT — POIVER TO OBTAIN DATA.
Chapter 48 (relating to joint comittee) is
amended by adding at the end thereof t i following
Je
new section;
"SEC. 5012. ADDITIONAL POWERS TO OBTAIN DATA.
"(a) The Joint Committee on Internal Revenue
Taxation or the Chief of Staff o " such Joint Committee,
f
upon approval of the Chairman or Vice-Chairman, is
authorized to secure directly from the Bureau of
Internal Revenue (including the Assistant General
Counsel for the Bureau of Internal Revenue), or
directly from any executive department, board,
bureau, agency, independent establishment or instrumentality of the Government, information,
suggestions, data, estimates and statistics, for
the purpose of making investigations, reports and
studies relating to internal revenue taxation.
"(b) The Bureau of Internal Revenue (including the Assistant General Counsel for the Bureau of
Internal Revenue), executive departments, boards,
bureaus, agencies, independent establishments and
instrumentalities are authorized and directed to
furnish such information, suggestions, data, estimates,
and statistics directly to the Joint Coimaittee on
Internal Revenue Taxation or to the Chief of Staff of
such Joint Coamittee, upon request made pursuant to
this section.0