The Providence news. (Providence [R.I.]) 1891-1906, 1894-01-03
Individual Income Tax Decided Upon
BY The Committee
AN INCREASE ON WHISKY TAX.
deer. Cigarettes aud Choroots Receive
Attention--The bonded Period for
Nhisky Extended Five Years Addi-
tiona,.

WAsHINGToN, Jan. 3-The advocates of
me Individual income tax proposition
were triumphant at the meeting of the
Democratic members of the ways and
means committee yesterday afternoon.
The II members were present when the
final meeting was held at tie treasury de-
partnent al O'clock.
Comparatively little time was lost in
discussion. The ground had all been
argued and fought over time and again,
md the issue was joined on two PROPOSE
tions, one to levy n tax of ? per cent
against individual incomes over $1,000 and
against the incomes from corporations
that Is, 4ie difference between the gross
income Sid the operating expenses, or, in
other words, the net income-and second
a proposition offered as substitute by
Mr.. Cochran of New York TO tax incomes
from corporations per cent and inheri-
tnuces > per cent, TO place tax of 10 cents
on whisky and TO restore sugar to the
dutiable list at half a cent a pound.
The vote on Mr. Cockran's substitute
proposition, which was taken first, re-
suited in its defeat, TO 4.
The original proposition was then sub
mitted and carried by a vote of 8.
whisky Tax Increased.
II was also decided in connection with
the latter proposition to increase the
whisky tax 10 cents gallon: that is. from
30 cents to 81, 10 be levied against whisky
IN rs well az out of bond. Upon the rep
resentation that this increase would work
undue hardship to the owners of whisky
in bond, it was decided to extend the
bonded period from three to eight years.
The tax on playing cards. at one time
fixed at cents a pack, was reduced to
cents, and the contemplated tax on per-
fumes and cosmetics was discarded
No increase was made in the tax on
cigars, but the increase on cigarets, 81 per
1000, was allowed to stand.
The committee estimate that the tax on
the incomes from corporations and in
diyiduals, corporations being treated as
individuals, will raise $50, ,0OO, 900 revenue
efe, ,e0o, ,eee from competitions and sfs,eee,-
900 from individuals.
The increase in the whisky tax, Il is es-
timated. will give an additional revenue of
$4,000, 900 per anuum The proposed tax
on inheritances which was to be levied 1,
case the proposition for an individual in
come tax failed, was not deemed neccs-
sary.'
IN Nutshell.
Summarized the internal revenue feat-
ures OF the Wilson bill are: A tax of
per cent on individual incomes over $4,000
md net corporation incomes; tax of 9
3nts . pack on playing cards; 81
4llon on whisky; 81 barrel on beer;
81. 80 per 1000 on cigarets, and So per |
1c0Q on cigars and cheroots
These features of the bill were pre-
sented to the full committee today and |
will be formally introduced in the house
later in the week.
The tariff debate begun in the house /
today, and the general debate will |
continue until Monday night, Jan. 8
Nine days will be allowed for debate un-
der the hYe-minute rule. during which
time the bill will be open FOR amendment.
The evenings OF these nine days will be
devoted to general debate. The final vote
IS to be taken Jan. IL.
The necessity for prompt action on the
arif Is deemed as of such importance
hat II isnot expected now that the Ha-
vaiian matter will be allowed TO interfere
With the tariff. The latter will have the
light OF way until disposed Of.