February 26, 1931, in Indianapolis, Indiana, was a day of bitter defeat for the state’s corporate elite. A contentious amendment to a corporation income tax bill that would have slashed the tax rate from three percent to just one percent was brutally killed in the state senate, with a vote of 23 to 26. The move marked a significant setback for Lieutenant Governor Edgar D. Bush, a Salem native and leading contender for the Republican gubernatorial nomination in 1932. Bush had passionately argued that the reduced tax rate was essential for the state’s farmers, but it seems his words fell on deaf ears. The state senate, after considering the measure for two days, voted to adjourn, effectively ending any hopes of passage. NewsTimes correspondent John B. Chester reported live from the state capitol, where tensions ran high as lawmakers clashed over the proposed tax break. This move is seen as a major victory for Senator J. Clyde Hoffman, a Republican from Indianapolis and chairman of the state tax survey commission. Hoffman’s amendment was the target of Bush’s impassioned defense, but it seems the Lieutenant Governor’s words were ultimately unable to sway the senate’s decision.
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Key Facts
- State: Indiana
- Category: Public Corruption
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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