January 10, 1967 : Johnson asks for surcharge to pay for the war

Introduction

President Johnson, in his annual State of the Union message to Congress, asks for enactment of a 6 percent surcharge on personal and corporate income taxes to help support the Vietnam War for two years, or “for as long as the unusual expenditures associated with our efforts continue.” Congress delayed for almost a year, but eventually passed the surcharge. The U.S. expenditure in Vietnam for fiscal year 1967 would be $21 billion.

Article Details:

January 10, 1967 : Johnson asks for surcharge to pay for the war

  • Author

    History.com Staff

  • Website Name

    History.com

  • Year Published

    2009

  • Title

    January 10, 1967 : Johnson asks for surcharge to pay for the war

  • URL

    http://www.history.com/this-day-in-history/johnson-asks-for-surcharge-to-pay-for-the-war

  • Access Date

    November 18, 2017

  • Publisher

    A+E Networks