Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-08-20
new WAR BILL
Will Bring in
TWO BILLIONS
Surtaxes Made to Fall Upon
Those Having $4,000 An
nuaIIy and More

WASHINGTON, D. c.. Aug. al
The war tax BILL under revision
since May "a, was put into final form
today for report to the senate by inc
finance committee 1t provides TOT
approximately $4,000 .000, 900 in taxes
to meet war expenses, but makes
no provision for further bond author
izations.
The bill was increased $133, OOO,000
over the total as it passed the house.
About 1927 900 900 was added during
the last week because OF the latest
war estimates The final redratt Will
be presented to the senate as BIZ
partisan measure Monday. Senators
La Toilette, Gore and Thomas plan
separate report, advocating higher
tax levieS.
The new increase OF 1927 100000
over the committees original draft is
distributed approximately among the
following additional levies:
On cooperate incomes, $162, 000, 900;
additional surtaxes on individual IN
comes of $4,000 and over, $27 $780,
900; distilled spirits $95, 100000; beer,
$4,000, 900; wines, $17,000,000; war
excess profits, $5,O00,OO0; bank
checks, 100000; floor or stock
taxes on sugar, coffee, tea and CO.
Goa, 100000.
Additional taxes on incomes Of cor
porations apply also to partnerships,
joint stock companies and associa-
lions, including life insurance COM
panies. Their normal income tax is
increased to per cent, 4 per cent
more than the present law and per
cent above the original house and
committee program.
Increased surtaxes fall entirely on
individuals having incomes of $l5,i
900 or above. They range from l PEI
cent on $4,000 incomes to a maxi
mum of 80 per cent on incomes in e4
cess of 100000.
An additional 81 per gallon tax
imposed on distilled spirits withdraw
from bond, except those used TO-.
dustrial purposes, increasing the
on distilled beverages to $500
gallon as compared with the pres4
rate Of SO. The committees III
hibitory tax on grain, molasses
other ingredients Of whisky to
further manufacture also is retail u
Beer would be taxed So per bak be
double the present rate! Wines W. Vi
bear virtually treble their pref in
taxes. The house levy was only O.
900, 900 on wines. nc
The 5000, 900 increase on wax
cess profits was added by pr at
changes In the schedule of en- qu
taxes providing for a total reie Oh
of $52S,000, 900. The $4,000, 00qdf jo
tional from bank checks woul6Ke fr'
SO, 10000 in all from that rec. an
The committee originally plaI TO co
tax only checks Of IS or md out co
decided today to extend the cent gu
rate to all checks.
The new floor or stock 2 on Tn
sugar, tea, coffee and coco$ the .u
same rates proposed in the con- "a
sumption taxes, are leviedY on 81
wholesalers and retailer{aVlng III
large accumulated supplies. -
An important eleventh h9nange
was to apply the new one bank
check tax to checks Of apounts, u
raising about 100000 ~. The
bill previously taxed onlyEks Tor
more than S.. f:
The committee also wrd new
provision exempting from postage
letters written by Ameri soldiers
: and sailors in foreign laend pro-
vided that the propose9 tax OF
cent each on Is cepald Tor
transportating parcel lpackages
shall not apply to packiWeighing ,
less than four ouncest ~