Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-08-04
BILL IN ITS FINAL FORM
PROVIDES S2,000,000,09O
No Recommendation for Further
Bond Issues Made in Report
Which Goes to Senate.
AN INCREASE OF S133. 600, 900
Eedraft Sent to Printer, and Will Be
Submitted as Bipartisan War Tax
Mcasure-Nfinority Report to Adj
vocate Higher Levies.
An INCREASE OF s133,ooO, 900
rBy Associated Press. ]

WASHING TON. August 3.-The war
tax bill, under revision since May ot.
was put into hnal form for report To
the Senate to-dry by tho Finance Com :
mittee. 1t provides for approximately
$4,000. 100000 in taxes to meet war cx-
penses. but makes no provision for
further bond authorization
The bill was increased sl33. o0o. 600
over the total As it passed the House.
About 1927 100000 was added during
the last week because of the larest
w1r estimates The iinal redraI was
sent TO the printer tonight. and will
he presented 10 the Senate az a bi
partisan measure Oh Monday, and prob
ably Will come up for debate OH Ned
Hesday. va
HiLLrASk HIGHER LEyIES
IN 4 SEPARATE REPORT
Senator'S La Toilette. Gore and
Thomas plan separate report advocaL-
ing higher tax levies
The new increase of S32I. .0oJ. .o0a over
the committees original draft is lis
trihuted approximately among the fol-
lowing additional levies:
ON corporate incomes. S162. 200. nhn
Additional surtaxes on individual in
comes of $4,000 and over. s27,5oo. 600.
Distilled spirits. $4,000. 900.
Beer. sl2.5oo.oo0.
Wines. sl7,o0o.0o0.
War excess profits. $4,000 600.
Bank checks. s?.0O0.o0c.
Floor. or stock. taxes on susa:, cof-
fec. tea and cocoa. $1,000. 900.
Total. S327.oGo.o0o
he a ldi ionil levy on incomes ~
corporations applies also TO partner
ships. joint stock companies and $50
cio o:ions. Including life insurance com
panies. The normal income tax Is in
creased % pc. tent, per cent more
than The present law. and . per cent
above the original House and commit
tee program.
The increased surtaxes fall entirely
on individuals having incomes of si5.-
GOO or above. They range from per
cent on $4,000 incomes to a maximum
OF 33 per cent on incomes in excess of
$5oo.cbo.
an additional 81 per gallon tax is
imposed on distilled spirits withdrawn
from bond, except those USED Tor in
diridual purposes increasing The .,v
on distilled beverages to $500 pr gal
OF sl.lo. The committees proh;bito,y
tax or grain. molasses and other in
gradients OF whisky to stoo far her
manufacture also is retained
Heer would he taxed SO per bu. rel.
double the present rate. Wines would
henr virtually treble their present
taxes. Tie House levy was only s6.-
Oo".onD ON wines
The s5.oto.0o0 increase on war ex.
cess profits wa: added by minor
'hans"s in the schedule of such taxns
providing for . tu!al revenue OF s5aS..
0on. .oDu
The s?.oo0.oon additional from bank
checks would make $4,000. 600 in all
from that source. The commit: tee
orig inally planned to tax only checks
Of IS or moro. but decided to-day to
extend the l-cent rate to all chsc.S
The new floor, ar stock tax.s on
su.;Ir. tea. coffee and Cocoa. a; the s,n.
rae :,rorostd IN the new consuni,;iGn
;aMcS are levied only on wno!-sa iers
,;nl retailers having large accumulated
supplies.