Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-08-31
TO VOTE ON WAR TAX BILL
BY TENTH OF SEPTEMBER
After agreement Is Reached in Sen.
ate, Cloture Petition Is
Withdrawn.
DAY OF SPIRITED DEBATE
Underwood Attacks Committees
Measure, While Simmons Defends
It-La Toilette Blocks Effort to
Fix Monday to Dispose OF Issue.
DAY OF SPIRITED DEBATE
Try A..c":ates ,,-esx


WASHINGTON. August 3c.-An agree
inent was reached by the Senate late
to-day TO take final vote on the war
tax bill not later than Monday, Sep
temberi 10. and the cloture petition
filed yesterday was withdrawn.
The long-expected Senate debate on
war profits features OF the war tax
bill was finally in full swing to-day
following disposal Of the publishers
tax provisions yesterday.
The Senate's agreement, formally
entcred'tinto BY . Una ahrni6ds consent
also provides for disposition of the
war profits section not later than Wed.
nesday of next week. and of the in
come tax provisions not later than the
following Friday. September,7. 1t pro-
vides for earlier action If the debate
onds sooner than expected
REACHED AFTER DAY
OF SPIRITED DEBATE
The agreement was reached after
a day of spirited debate between Sem
ators Simmons and Underwood on war
had blocked an effort to fix next Mon
day as the day for n vote. If the
debate runs through until September
10 the bill will have been under SEN
ate discussion just ono month. 1t pass
cd the House on May 23. The cloture
petition on the war tax measure was
to have been voted on tomorrow. Its
proponents were confident to-day of
h,,t
voting agreement came from those
leading tic fight for higher tax rates.
Anticipating possible adoption of
cloture. many amendments were in
troduced late in the day. Senators Hol
u.s. Gore and Brady sponsored pro-
visions to increase the war profits
levy to rates ranging from so to Sc 2-s
per cent, and Senator La Toilette pre-
sented y substitute bill designed to
raise about S3,5oo.oO0.000 principally
from war profits. incomes and liouor
taxation.
Denouncins money slackers," Sen
ator Underwood said the committee's
war profits scheme would work many
inJustices. exempt many large corpor-
ations' earnings and was full OF dark
places" He opposed principally the
iuualcu rates ana the OASIS OF call
culatinE profits. While the Bankhead
substitute, which proposes a tax based
upon actual value of invested capital.
Is estimated to raise $3.50, 100000, as
compared with $1,000. 000 O0C of the COM
mittec plan. as increased by tho So
called compromise amendments pre-
sented yesterday. Senator Underwood,
and also Senator Borah, declared they
believed the latter estimate was much
larger than actual results would show.
BANkHEAD SUBSTITUTE
ATTACHED BY SIMMONS
Senator Simmons attacked the Bank
head substitute as an alleged exemp-
tion of much wealth from taxation.
He said 1t was an excess, rather than
war profits tax plan, while the com
inittee proposal combined both
Exemption from taxation of dividends
declared by banks and trust companies
out OF surplus and undivided profits
accumulated or earned prior to March
!, 1913 was proposed in an amendment
by Senator Pomerene. Another. by
Senator RaDsdell, would put a tax on
cigarettes ranging from cents on
those retailed for not moro than S
cents 10 SO per cent on those sold al
25 cents or more.