Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1909-07-16
WON'T HAVE ADMINISTRATOR
SHOULDER RESPONSIBILITY
FOR PRESENT MEASURE.
GOING TO HAVE HIS OWN WAY.
Payne and Aldrich, Congressional Lead
ers, It Is Reported, Will Agree to
Taft's Programme.
CoNFEREEs HASTEN THEIR WORK
BULLETIN.

BULLETIN
WASHINGTON, D. c., July lathe
new draft of the corporation tax amend
ment will provide for tax of per cent.
instead Of 2 per cent, on the net earn
ings of corporations. This was decided
today at an informal conference at the
White house Attorney General Wick.
ersham will prepare the amendment &C.
cordingly.
WASHINGTON, D. c., July -
President Taft and the lawyers of his
cabinet have undertaken to save the
tariff conferees from haggling over the
corporation tax amendment.
1t is conceded that the measure as
passed by the Senate must be redrafted
in order to remove constitutional objec'
tons and to meet the views of the ad-
ministration. The President has told the
leaders of the Senate and House that
as the administration would be charged
with the responsibility of collecting the
tax and defending the act if assailed in
the courts. the administration should be
permitted to perfect the measure.
Senator Aldrich and Representative
Payne have made no objection to the
suggestion made by the President and as
a result Attorney General Wickersham
is working out the legal problems in
volved. In frequent consultation with
the attorney general are Secretary OF
State Knox Senator Root and the Pres
ident himself. When they have perfect
ed the amendment, it WILL be sent to the
conferees, who will incorporate it IN the
bill as agreed to in conference.
May Reduce Tax Rate.
If the corporation tax feature is
changed at all after being redrafted, the
alterations will probably be confined t
the rate of tax imposed upon net earn
ings. There is a strong sentiment IL
Congress that the tax should be not
more than l per cent. and it may be
cut in half accordingly; but the rate
the conferees.
Some reluctance is being exhibited by
members of the House regarding sug-
gestions that the Inheritance tax fea-
ture adopted by that body be left out OF
the bill President Taft has been i'm,
pressed by the arguments of the states
that they should not be disturbed in the
use of the inheritance tax as d means
of raising revenues, although his belief
in the principle has not abated. How
ever, he does not think that federal anC
state governments should both resort &c
this method of raising revenues.
For Customs Court.
The amendment adopted by the Sen
ate providing for the establishment of 8
customs court is likely to be accepted by
the House conferees. An effort will be
$4,000 as provided originally by the
amendment as reported by the finance
committee to the Senate.
Thesterms Of the Senate maximum anC
minimum provision are meeting Will
some favor from the House members OF
the conference committee. Indications
are that the provision will be accepted
provides that the maximum rates, Which
are fixed at % PEI cent. above the import
duties prescribed by the bill, shall &C
into effect March 81 next, unless the
President by proclamation meantime
shall have released countries from the
higher rate. These proclamations are tc
be issued only upon receipt of evidence
that the United States is receiving the
best rates given by such foreign country
If the Senate gains it's way in relation
to the corporation tax, Inheritance tax
and the customs court there is a feeling
that it will be at the sacrifice of many
of the senator's amendments to the du.
table list.
Conferees Make Haste.
The conferees plunged into their labors
today with a vigor and enthusiasm thai
portends haste in getting the bill back tc
the Senate and the House. The con
metal schedule and into the wood sched
ule in few hours. This does not NEAR
that the metal schedule was completed
as it contains many important amend
ments such as changing the rates on stee
products, which are the subject of sharI
differences of opinion. These Were
passed over to be taken up after minol
amendments in all schedules have beer
settled.