The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1913-07-19
REPORT ON new
TARIFF MEASURE
Chairman Simmons Lauds Bill Before
The Senate-Rates Are Twenty
Seven ercent Less
WILL REDUCE LIVING COST
Senator In Charge Of Measure Com
pares It With Payne-Aldrich Act
Which Is Now In Force

Washington, July 19.-An average
reduction of 27.64 per cent under the
rates Of the existing Payne-Aldrich
tariff law is proposed by the Demo
cratic Underwood-Simm tariff BILL
upon which the senate has just begun
debate, according to the report of the
finance committee majority submitted
by the chairman, Senator F. M. SIM
mons
The report also shows that the bill
as reported to the senate provides
rates 422 per cent lower than the
Underwood bill as it passed the house.
A salient feature of this bill, it Is
pointed out, is the large increase Of
imports to be admitted free of duty.
Under the house bill the value of free
listed imports was 100000, 900, where.
as the Democrats of the senate In eau
Gus. by sweeping changes, propose to
free list imports valued at $147,367,-
600.
Upon the basis of ten months for
the coming fiscal year the report esti-
mates that the receipts from customs
alone under the new bill will be $685..
100000; from income tax for ten
months, $58,330,00O; corporation tax,
S37,000,000; internal revenue, includ.
Ing tax on cotton futures OF $4,000
900, $207, 100000, and that the reve-
nue. from all other sources will bring
the total for the fiscal year to 1885,.
100000 With disbursements estimat-
ed at 1894, 100000 balance Is shown
In favor of the government of $2,202,.
900.
blouse Changes Too Drastic"
In analysing its changes in the
house administrative features. of the
bill the committee deemed the amend
ments of the house entirely too dras-a
tic."~ Particular attention is called to
the senate provision designated to
furnish the president with power to
impose tariff duties of retaliatory
character upon all articles comprised
In a specific list" which includes many
agricultural products.
"The provision now recommended"
says the report, will, it Is believed,
place In the hands of the president
powers which, though extensive in
their sphere, are sufficiently clrcum.
scribed to permit of their being ex.
erted within the limits assigned them,
without disturbing the general fiscal
system of the United States. Wise
use of the retaliatory power will, 1t
IL reasonably expected, bring about
equitable arrangements with those
countries which do not now afford u
fair treatment"
Reduction of the basis of exemption
from income tax from $4,000, al in the
house bill, to $4,000 for unmarried per.
sons, and the consequent rsarrange
nent of this, the report comments up
On as follows:
"Your committee reduces the amount
Of exemption of net income to $4,000,
and allows on account OF marriage an
additional exemption of $1,000 to eth
Or the husband or wife where they are
living together, but not to both. In
the case of minor child or children
living with and dependent upon the
parent, such parent Ia allowed an ad.
ditional exemption of $500 for one
minor child, and up to $1,000 on &C.
sount Of minor children, except where
both parents are taxable, in which
case no exemption is allowable on &C.
count Of children"