Free trader-journal. (Ottawa, Ill.) 1916-1920, 1917-08-01
OLD ]. BARLEYC0RN
HARD HIT UNDER NEW
REVENUE TAX LAWS
SENATE COMMITTEE PLANS FOR
$1,000 100000 CALL FOR RAISING
LEVlES ON INToxlCANTS.

Washington Aug l.-Reyision Of
the war tax bill so as to increase its
total from $1670,O00,oO0 to about
~ ,00G,o00,000 mainly by addit onal
leyies on intoxicants and ON personal
and corporate incomes, was definitely
decided on today by the Senate fl
nance committee.
The detailed schedules and the ex-
act total remain to be determined but
committee members said last night
they expected the bill to aggregate
at least $l,99S, 100000 and not more
than s2.00S 100000. They plan to
have the measure ready to report by
the end OF the week.
The following new lcvies were def.
nlteiy decided upon today.
On corporation incomes. Sl62, C00,-
600.
Incomes of individuals of $4,000
and more. S27 600, 0OO.
Distilled spirits, $50 100000.
Malt and fermonted liquors (beer),
$25. 0000 900.
These new taxes total $30i 800 00G
The committee considered he follow
ing further revision in providing for
the remaining 1913, 100000 necessary
to attain the minimum of 81, 99S, 00C =
600
Increase of taxes on brandy for for
tifying wines, to yield about $4,000. .
GOO
Increase of rates on wines, to yield
about $1,000 00C.
Increase of consumption, or excise
taxes on sugar coffee and possibly tea
together with few new taxes. posi-
bly, to include gasoline and fire arms.
Reduction of the Is per cent tax in
the so-ealled Jones amendment on cor
porate undivided surplus to 10 or )
per cent
Altho the committee had originally
planned TO secure much of the add,
tional revenue from war excess profits
taxes, committee sentiment today was
said to be strongly against increasing
the pending schedule. estimated to
raise 1928, 100000 more than under the
present law, or total of S74S, 000,0 0C /
To secure $162 900 600 more from in
comes of corporations, Joint stock
and associations, includ.
ing life insurance companies, the
decided 10 increase the |
normal rate on such incomes by 2
per cent, trebling their present rate /
and doubling the rate provided in the /
bill. Modification of the Jones amend !
ment was virtually agreed to, with the /
exact change to be decided later. be |
cause of the income increases ordered. I.
The new surtax rates on individual /
incomes of $1,000 and above remain
to be definitely fixed.
The graduated surtaXes in the pend
Ing bill run from 5 per cent on SIS 600 /
incomes up to 80 per cent. The new
'ates probably will gradually measure
rom 6 to IS per cent With the in.
'reaSes the total income tax returns
o the government would be $l,052,-
100000. of which $7l9,70o000 would
)e the war levy, against 1892, 700 900
proposed in the House bill
The committee decided to add tax
Of 81 per gallon more on distilled
spirits and 80 cent more per barrel on
malt and fermented liquors. These
IaXeS would provide total increase
Of $40 per gallon on distilled spirits,
which now pays $li0 and of $t75 per
harrell on beer, now paying 81 80.
st, Louis, July 31.--St. Louis brew.
ars today said that 1000 saloons in
would 20 out of business if
a tax of 49, 80 is placed on beer as
planned by the Senate finance con-
mittec.