Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1917-09-28
WAR TAX BILL
EXPECTED TO
Be REPORTED
VERY QUICKLY
Senate and House Conferees
Said to Have Come to
Agreement on NJ e ure.
Passage is Predicted During
Next Week.
.By Review LEASED Wire.)


WASHINGTON. Sept. 27.-The war
tax bill, increased to raise about s2,70O-
100000 in addition to 1888, 100000 Sc
cured under existing law, was COM
pleted late today by the senate and
house conferees.
Presentation of the conference re-
port to the house late today was plan
ned. The bills enactment into law
next week is regarded assured.
Taxes of between S250,000,OO0 and
S300,000,000 over the senate bill, which
totalled $2,416, 100000, were added by
the conference. AS passed by the
house the total was s1,S6S, 100000.
Excess Profits Unchanged.
Senate levies of s1,O6O,OOO,OOO on
war excess profits and SS42, 100000 on
incomes were substantially unchanged.
the conference increases being divided
among many Items with a few taxes
added and many eliminated house pro-
visions restored.
The system of levying war excess
profits, however, virtually was re-writ-
ten in compromise between the SEN
ate and house systems. minimum
exemption of seven per cent on invest
ed corporate capital is said to be pro-
vided, with modified allowances for In
tangible assets.
Income Tax Change.
Theonly change in the income tax
section was to re-arrange and harmon
iZe a few graduated sur-taxes On in
comes over s50.G00, without substan-
tial change in revenue returns or in
dividual taxation. Normal taxes on in
dividuals and corporations and the
lowered individual exemptions revised
in the senate were approved.
Postage Tax Raised.
OF the $250,OO0,OOO to $500, ,OOO, 900
additional agreed to by the conferees,
about one-third was placed upNn post
age. The house one-cent letter tax,
estimate to raise s70,0OO,0OO which
was stricken out by the senate, was re-
stored by the conferees, and their
agreement for graduated zone in
crease on second-class mail rates is
estimated to raise some millions muru
Amusement Taxes.
Another large increase was in pas
senger transportation and Pullman ac-
commodation taxes. Amusement ad
missions also bear a considerable in
crease, with senate exemptions of out
door parks and attractions rejected.
The senate provision exempting
picture theatres charging twen-
ty-five cents or less from taxation was
changed and provision made for ex-
empting only much cheaper theatres.
Luxuries.
Revenues from automobiles, patent
perfumes, and cometics.
and other manufactures also would be
increased.
Checks To Be Taxed.
The one-cent stamp tax on bank
checks, eliminated in the senate, esti-
mated to raise $4,000, 900, is reported
to have been restored to the bill.
Among house provisions abandoned
were the retroactive take on 1916 in
comes, estimated to raise S10S,000, 900
a general 10 per cent tariff levy, esti-
mated to raise s20O,OOO,OOO and con-
taxes on gas, etc, and local
telephone service, estimated to bring
in s30,OO0,00O.
other Agreements.
Another action understood 70 have
been taken was restoration of the spec
ial tax of 16 per cent on munitions
estimated to raise $29,
OOO, 1000.
The senate provision for its repeal
was stricken out.
Official announcement of the prin-
cipal features of the conferees' work
probably will be made tomorrow.