The Birmingham age-herald., 1917-09-28
WAR REVENUE BILL IS FINALLY COMPLETED BY THE C0NFEREES
Additional Taxes of About $500, 900, ,O00 Added in Re- draft Measure, Which
 Is Largest in History

.
 under existing law, was com- pleted late today by the Sem ate and House conferees.
 After two weeks deliberation the conferees 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 said to be tentative, virtually only formal approval of the new draft remains to be voted.
 E Presentation of the conference report to the House late tomorrow is planned. It will be considered first by the House and the bill enactment into law next week Is regarded assured.
 MORE TAXES ADDED Additional taxes of between s250, ,00o, 900 and $30o.00Oo0o over the Senate bill, which totaled s2,41s,0ooOOo, were added by the conferees. As passed by the House the total was $1,ssS. .0oo0oo. Senate levies of s1.0e0, ,0Oo000 on war ex- cess profits and $s42,2oo.ooo on incomes were substantially unchanged. the con ference increases being divided among many items, with few new taxes added and many eliminated House provisions restosed. The system of levying war excess profits taxes, however. was prac- tically rewritten in compromise be- tween the Senate war profits and House excess profits systems. A minimum exs emption of : per cent on invested cor porate capital . is said to be provided. with modified allowances for intangible assets.
 INCOME TAX SECTION
 The only change in the Senate in- come tax section was to rearrange and harmonize few graduated surfaces on incomes over $5o000, without substantial change in revenue returns on individual taxation. Normal taxes on individuals and corporations and the lowered indi- vidual exemptions as revised in the Sen- ate were approved.
 LIQUOR AND TOBACCO
 Liquor and tobacco sections of the Sen
 
 changed, although a slight decrease in revenues from whisky and manufac- tured tobacco probably will result.
 Of the $25o. 100000 tp saOo.0O0ooO ,addi- tional agreed to by the conferees about one-third was placed upon postage. The House 1-cent letter tax, estimated to raise $70,0oo0oO which was stricken out by the Senate, was restored by the con ferees and their agreement for a grad uated zone increase of second class mail rates Is estimated to raise some mil lions more.
 ADJUSTMENTS
 Another large increase ordered was in passenger transportation and Pullman n accommodation taxes. Amusement ad- missions also bear considerable in crease. with Senate exemptions of out door parks and. their attractions re- jected. The Senate provision exempting motion picture theatres charging 25 cents or less from taxation was changed and provision made for exempting only much cheaper theatres. The exact ex- emptions have not been disclosed. Rev. enues from automobiles and patent medicines, perfumes and cosmetics and other manufactures also would be in creased by the conferees' agreement The 1-cent stamp tax on bank checks. eliminated in the Senate and estimated to raise $lo,oooooO Is reported to have been restored to the bill
 Among important House provisions abandoned were the retroactive tax on 1916 incomes, estimated to raise $los, 900, GOO; for general 10 per cent tariff levy, estimated to raise $20o, 100000 and consumption taxes on gas. electric and local telephone service. estimated to bring in $ao.00o, GOO.
 Another important action understood to have been taken was restoration Of the special tax of ls per cent on mu- nitions manufacturers. estimated to raise $29y y0O0,0Oo. The Senate provision for it's repeal was stricken out.
 Official announcement of the principal features of the conferees' work prob ably will be made tomorrow by Senator simmons and Representative Kitchin. |