Arizona republican., 1916-07-06
S200,O00,000|S IS
( PROP POSED IN
REVENUE BILL
[Repuhlican A. p. Leased wireJ

WASHINGTON, July 5.-The ad-
ministration's general revenue bill, de-
signed to produce about $200.000,0 600 of
additional revenue from increased sur
tax on incomes and from taxes on in
heritances and war munitions profits
was favorably reported today by the
house ways and means committee and
probably will be passed by the house
Monday.
TWO republican members of the COM
mittee, Longworth of Ohio and Gard
ner of Massachusetts,, voted with the
democrats for a favorable report but
reserved the right to express during
debate in the house. their objections to
the method of the majority in framing
the measure. Two other republican
committeeman, Green of Iowa and
Sloan of Nebraska, while they voted
against reporting the bill, gave notice
that they expected to support it on the
final roll call
General debate is expected to begin
Thursday under a special rule provid-
ing for a final vote before adjournment
Monday That plan was definitely
agreed upon during the day by house
leaders.
The committee report says that the
necessity for revenue legislation flows
out of the necessary increase in appro-
priations for the army and navy and
fortification of our country"
The financial situation is summarized
in this way:
Estimated excess of disbursements
over receipts of the fiscal year ending
June 80. 1917, 1886, 922, 900; additional
receipts under the proposed bill. in
come tax $107 900. 600: estate tax, $l7,-
000,0 900 (and it is estimated that the
annual receipts obtained from the es-
| tate tax will amount to $54, 900, 900.
when the law is in full operation) ;
munition manufacturers tax. $4,000
O00; miscellaneous taxes S2,000,000. To-
tai additional receipts $197, 900. 900.
1 Balance to be taken from general fund
| s69. 1922, 900
| Fortunately the balance in the gen.
eral fund June 80. 1916. was much
! larger than at the end of any fiscal
year since 1908. After deducting $59,-
O000 for dishursing officers bal
! anccs, there remained in this fund over
! 1921, ,0000 900. After deducting $69, ,922,-
I 900 from this fund, as above, there will
still remain June 30, 1917. in the general
| fund over 500, 600. 900, exclusive of the
| disbursing officers balances 1t is es-
timated that the total appropriation fol-
/ the fiscal year ending June 30, 1917
| will not exceed 81 $40, 900, 900. This in
cludes S125, 900, 900 to meet the extraor-
binary expenses or disbursements oc-
casiOned by the Mexican situation This
and any other appropriations that may
| be necessary to meet the abnormal ant
/ extraordinary expenses which may b'
! incurred on such account should b.
financed by bond issues, as is alway.
done by this and all other nations undel
similar circumstances.
"In estimating the actual disburse
ments it is proper to deduct the sink
ing fund requirement included in tn,
permanent appropriations at $50 725. 90
for the fiscal year 1917, and also tn
postal appropriations estimated a
1924, 1880 payable from the posta
revenues. 1t is also safe to deduct a
unexpended, an equivalent to five pc
, cent Of the total estimated appropria
tions remaining after these deduc
tions Deducting the sinking fund an
postal appropriations and the five pc
cent of the balance as unexpended an
the estimated $125, 900, 900 of bonds t
(Continued on Page ThreeI