New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-13
Democrats Accept Income
Levies Set by Finance
Committee.
DEFERS DECISION
ON MUNITIONS
Will Act To-day-Bill Probably
Will Be Taken Up for
Vote This Week.

Washington, Aug. 12-Revislon OF
the income, inheritance stamp and
theatre sections Of the House revenue
bill, as recommended by the majority
of the Finance Committee, was approved
tonight by the Democratic Senate eau
Gus after many hours of debate. The
proposed normal tax on incomes is left
at per cent, where the House hac
fixed it, the exemption to be s4,ooo
for persons with families and $4,000
for single persons, as in the present
law, The rate of taxation under e1-
listing law is / per cent.
In addition to the normal tax addl-
tional taxes on large incomes Will De
levied, as follows:
One per cent upon the amount by
which the total net income exceeds
$4,000 and does not exceed s40,OVo,
per cent on $4,000 to 100000, per
cent on 100000 10 $4,000, A per cent
on $4,000 to 100000, 5 per cent on
100000 to $4,000, 9 per cent on s3Oo,,
600 to 100000, 10 per cent on SooO,ooo
to $2,000,000, and Is per cent on the
amount by which the total net income
exceeds 100000.
Taxes Fixed on Estates.
Upon the transfer of inheritances
the following taxes would be levied:
One per cent of the amount OF es-
tates valued at not TO exceed S5O,O00,
per cent on estates exceeding So0,0Oo
and not exceeding $4,000, 3 per cent
$3.50, 900 to S450,000 per cent on
&
s GOO, 900 to $4,000, 900, Z per cent on
s., 600, 900 to s3,0OO0OO, 8 per cent on
So 900, 900 to S4,000.000, 9 per cent on
S4,OOO,000 to S5,JO0,000 and 10 per cent
on estates exceeding $4,000, 900 in value.
The only increase in the proposed IN
come taxes over the House rates is
from 10 to Is per cent on incomes IN
excess of 100000. The rates from b
to 10 per cent on estates also are add
tions to the rates proposed IN the
House bill.
Further Changes Unlikely.
The rates were approved after
heated debate, in which some Senators
proposed to make still higher rates
and others sought to haev the proposed
taxes on incomes and inherltances re-
duced. While there is opportunity, as
long as the caucus has the bill under
consideration, to revise the list, Ad-
ministraton leaders said tonight that
no further changes were likely, and
that the bill would go to the Senate
next week with these sections as they
were ratified tonight.
So anxious are the Democratic lead
ers to complete revision of the bill IN
time for reporting to the Senate by
Tuesday, that the caucus was held IN
session until late hour tonight. and
will continue tomorrow. A Sunday
caucus has not been held in many
years.
At to-night's session decision on the
munitions tax was deferred until to-
morrow's session, and the caucus quick
ly approved recommendations of the
committee restoring some Of the stamp
taxes of existing law and substituting
existing law for the proposed theatre
and moving picture house taxes.
Stamp Taxes Restored.
Stamp taxes. which the House ig-
nored altogether, were restored as
follows:
Bonds. debentures and certificates of
Indebtedness, cents on each 500; ex-
press and freight receipts, cent each;
telegraph and telephone messages, l
cent for each message for which
charge of Is cents or more is made;
custom house receipts, not exceeding
500 in value, rs cents; not exceeding
$500, so cents; exceeding $500. 81; in
surance policies, one-half of cent on
each dollar or fractional part of the
amount of premiums charged; foreign
steamship tickets, 81 on tickets costing
not more than $50, not exceeding $50,
SO; more than $50, IS; tickets costing
$40 or less, exempt; Pullman seats and
berths, 2 cents each Il cent in existing
law.
The House bill provided for taxes on
theatres and amusement places based
on population OF towns and cities, but
the committee and caucus restored ex-
listing law, the rates ranging from $50
a wear on theatres having a capacity of
not more than $3.50 to 500 on theatres
with seating capacity exceeding $500.