Amid Boston Overdose Crisis, a Pair of Harvard Students Are Bringing Narcan to the Red Line


At First Cambridge City Council Election Forum, Candidates Clash Over Building Emissions


Harvard’s Updated Sustainability Plan Garners Optimistic Responses from Student Climate Activists


‘Sunroof’ Singer Nicky Youre Lights Up Harvard Yard at Crimson Jam


‘The Architect of the Whole Plan’: Harvard Law Graduate Ken Chesebro’s Path to Jan. 6

Over the Wire

Profits Tax

By United Press

WASHINGTON--President Roosevelt signed the excess profits tax-plan amortization bill, designed to speed rearmament, prevent growth of "war millionaires," and raise $1,000,000,000 annually of new revenue, the White House revealed today.

The second revenue act of 1940 imposes levies ranging from 25 to 50 percent on excess profits and authorized five-year amortization of new plant facilities constructed for defense material production.

A last-minute amendment also pro- vides low-cost insurance for all men serving in the armed forces, including regulars, conscripts and reservists and National Guardamen called into active duty

Want to keep up with breaking news? Subscribe to our email newsletter.