The Barre daily times. (Barre, Vt.) 1897-1959, 1913-04-07
LOSS OF SSO,000,000
MET BY INCOME TAX
Protection to Farmer Would
Be Cut by More Than SO
Per Cent.-Also Protec-
ton to Steel and Imple-
ment Manufacturers

Washington, d. c., April 7.-Remova
of all tariff from many articles OF food
and clothing; broad reductions in the
rates of duty on all necessaries OF HE;
an increase of tariff on many luxurles
and a new income tax that would touch
the pocket of every American citizen
whose net income exceeds $4,000, are the
striking features OF the new Democratic
tariff revision bill, presented to-day to
the House.
Sugar would be free OF duty in 1916,
tbe bill proposing an Immediate % per
cent reduction and, the Iemoval of the
remaining duty in
Raw WOOL would b sade free at once
with corresponding u heavy reduction
in the tariff on all woolen goods.
Put on Free List.
All these articles are put on the free
list, namely: Meats, flour, bread. boots
and shoes, lumber, coal, harness, sad
dlery. iron ore, milk and cream, pota-
toes, salt, swine corn, corn meal, cotton
bagging. agricultural implements, leath-
er. wood pulp, Bibles, printing paper
not worth more than 2ls cents per
pound. typewriters. sewing machines,
tvpesetting machines, cash registers,
steel rails, fence wire, cotton ties, nails,
hoop and band iron, fish, sulphur, soda,
tanning materials, acetic and sulphuric
acids, borax, lumber products, including
broom handles, capboards, hubs for
wheels, posts, laths, pickets, slaves,
shingles.
From Free List to Taxed,
These principal items are taken from
the free list and taxed;
Rough and uncut diamonds and prec-
ious stones, furs, coal tar products, 10
per cent; vegetable oils, 20 per cent |
spices from one cent to two cents per
pound.
Revenue Decrease of S8o,ooo,ooo.
The new rates are estimated to re-
duce the customs revenue approximately
Ss000O.000 year This is expected to
be made up by the income tax.
Endorsed by President Wilson. the
measure represents the efforts of the
president and the House tariff measure
makers to carry into effect Democratic
pledges of downward revision and of
concessions to the American consumer.
Protection to the farmer would be
cut throughout by more than fifty per
cent in an effort to reduce the cost of
food.
Protection to the steel and implement
manufacturers would in turn be cut by !
fully as wide margin.
Heaviest reductions fall upon food {
stuffs, agricultural products, woolen and !
cotton clothing.
Democrats May Fight on Free Wool. J
The free wool proposal backed by ;
President Wilson and accepted by the !
House committee, is expected to provoke :
a severe fight within the Democratic
ranks OF both houses. 1t had not be-
come clear to-day whether the Demo-
cratic opponents OF free wool and free c
sugar in the Senate would be able to {
force a compromise on one or both of f
those provisions. il
The decision to make gradual re- :
duetion in the sugar tariff was reached n
by the president and the House commit a
tee after Louisiana cane growers de- G
clined to accept a compromise that f
would have established a one-cent-per- a
pound tariff for three years with free a
sugar in 1916. p
The Income Tax
1 ne income IaA, WHICH VIII transfer
indirect taxes levied through the tariff n
into a direct tax upon the incomes of a
individual citizens and corporations, ex- il
empts all sums below $4,000. Incomes Il
in excess of that amount will pay one n
per cent. tax up to $4,000. two per n
,ent. from $4,000 to $4,000: three :,
per cent. from $4,000 to 100000 and II
iour per cent. above that figure. lc,
The present corporation tax, levying y
me per cent. on corporation incomes ~
lbove 5000, would be retained as part a.
II the income tax. ,r
To encourage trade with foreign coun- NJ
ries. the bill would reverse the maxi Il
mum aud minimum provision of the n,
present tariff law. The new tariff rates =,
would be- the maximum tariff. and the
resident would be given authority to ~
iegOtiate reciprocity treaties and make ~
oncessions to eUrItries that grant IA II
-.