New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-09-28
Conferrees Add More Than
100000 to Sem
ate's Total
Compromise on
Excess Profits
Measure Is Expected to
Become a Law Next
Week


tax bill, increased to raise about w.
/ 700, 900 900 Federal revenue IN addition
to sl.333, 600 900 secured under existing
law, was completed late to-day by the
] Senate and House confcrrees.
After two weeks deliberatioD the
conferrees reached agreement on the
bill-the largest in American history
and in the making four months-and
sent the revised draft to the printer
While the action was officially sald 10
be tentative, virtually only formal APP
prova OF the rev draft remains 10 be
voted. Presentation of the conference
report to the House late tomorrow IS
planned. 1t will be considered hrst by
the House and the bills enactment into
law next week is regarded as assured.
Additional taxes between s25O,OOO,OOO
! and $500, 100000 over the Senate bill,
which totalled $2,416,000, 900, were add
ed by the conforrees. AS passed by the
House the total was sl,S6S 100000.
Senate levies of 81 900 ,O00, 900 on war
excess profits and SSi2 100000 on in
comes were substantially unchanged.
/ the conference increases being divided
D
taxes added. AMI many eliminated
House provisions restored.
Compromise on Excess Profits
The system of levying war excess
profits taxes, however, was practically
4 rewritten in compromise between
the Senate war profits and House eX-
cess profits systems. A minimum eX-
- ant ~ ~ n
porate capital is said TO be provided
with modified allowances for intangible
assets.
The only change in the Senate in
come tax section was TO rearrange and
harmonic q few graduated surfaces OF
incomes over $50,000 without substan.
; tial chance in revenue returns or indi-
vidual taxation. Normal taxes on IN.
dividuals and corporations and the low
cred individual exemptions as revised
I in the Senate were approved.
Liquor and tobacco sections of the
Senate draft also we're practically un-
changed. although slight decrease IN
revenues from whiskey and manufact.
ured tobacco probably will result.
OF the $3.50 000, 900 to $500, 100000 ad-
ditional agreed to by the conferrees
about one-third was placed upon post
age. The House One-cent letter tax
estimated TO raise S70,000,000, which
was stricken out by the Senate, was
restored by the conferrees, and THEN
agreement for graduated zone in
crease on second class mail rates is es-
timated to raise some millions more.
Large Increases Made
Another large increase ordered was
~ REORGANIZATION and Phil.
man accommodation taxes. Amuse-
nent admissions also bear a consider
able increase, with Senate exemptions
of outdoor parks and their attractions
rejected. The Senate provision ex-
empting motion picture theatres charg-
ing % cents or less from taxation was
changed and provision made for ex-
empting only much cheaper theatres
The exact exemptions have not been
disclosed.
Revenues from automobiles, patent
medicines, perfumes and cosmetics and
other manufactures also would be in
creased by the conferrees' agreement
The one-cent stamp tax on bank checks
eliminated in the Senate and estimated
to raise sl0000,000, is reported TO have
been restored to the bill
abandoned were the retroactive tax on
1915 incomes, estimated TO raise $685.
900 1000; general 10 per cent tariff
levy, estimated to raise s2OO,000,000
and consumption taxes on gas, electric
and local telephone service, estimated
to bring in 100000 900.
Another important action understood
to have been taken was restoration OF
81. II -
tons manufacturers, estimated to raise
S29,OOO,000. The Senate provision TO,
its repeal was stricken out.
Official announcement of the princi-
I pal features of the conferrees' work
! probably will be made tomorrow by
Senator Simmons and Representative
. kitchin.
The Senate bill passed September II
laid new 2 per cent normal tax on in
dividual incomes, besides surtaxes
ranging from | per cent to 90 per cent
on incomes of from $4,000 20 $1,000, 900
The bill lowered the exemption from
the normal tax to $4,000 for married
persons, with an additional 5000 fol-
each dependent child, and 1000 fol
single persons.
The Senate taxes on beverages were
. Sl.IU u Sdllon on ulStllleu splrlts iOr
if withdrawn from bond, S210): i'm.
ported perfumes containing distilled
spirits, sl.l0 gallon; solids used in
the making of distilled spirits. $50 a
hundred pounds; liquids used in max.
ing distilled spirits, So a gallon; ar
additional 10 cents a gallon on spirits
when refined; beer and the like. 81 sc
barrel; wines, Sl.l0 a gallon: spark
( ling wines, double the present internal
revenue tax; grape brandy or wine
/ spirits, 81 a gallon; syrups, etc, for