Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1917-08-02
NEW TAX LEv|ES
ARE DECIDED UPON
Committee Plans Methods of
Raising $2,000,000,000 in
War Revenues.

Washington, July 31.-Revision Of the
war tax bill so as to increase its total
from $3.50 100000 to about 5000 100000
mainly by additional levies on intoxi-
cants and on personal and corporate In
comes was definitely decided on to-day by
the Senate finance committee.
The detailed schedules and the exact
total remain to be determined. but COM
mittee members said tonight they ex-
pected the bill to aggregate at least
81, s9s, 900 900 and not more than $685.
COZ. 900. They plan to have the measure
ready to report by the end Of the week.
The following new levies were definitely
decided upon to-day:
On corporation incomes, $162.0O0.000.
Incomes Of individuals Of $1,000 and
more. 27,6O0.0 900.
Distilled spirits. $50. 100000
Malt and Fermented liquors beer).
| 81. 100000.
These new taxes total 1904. 600 900.
The committee considered the following
further revisions in providing for the re-
naming SO. ono necessary to attain the
minimum Of 81. s9S. 0o0.00:
Increase Of taxes on brandy for forti-
flying wines. to yield about $10.000O0o.
Increase Of rates on wines, to yield about
81, Jo0. 900.
Increase Of consumption, or excise taxe7
on sugar. coffee end possibly tea, togcth-
er with few now :axes. possibly to M
clude gasolene and fire arms.
| Reduction of the Is per cent. tax In the
SO called Jones amendment, on corporate
undivided surplus to ten or five per cent.
| Although the committee had originally
planned to secure much Of the additional
evenue from war excess profits taxes COM
mittee sentiment to-day was said to be
strongly against increasing the pending
schedules. estimated to raise $52S. 900. 900
more than under the present law. or
ltotaliof $748. 100000.
To secure $ls2, 100000 more from incomes
Of corporations. joint stock companies and
associations. including life insurance COM
panies. the committee decided to increase
1.-The normal rate on such incomes by two
per cent, trebling their present rate and
doubling the rate provided in the bill
Modification Of the Jones amendment was
Virtually agreed to. with the exact
change to be decided later. because of the
Income increases ordered.
The new surtax rates on individual in
comes Of $4,000 and above remain to b.
definitely fxed.
The graduated surfaces In the pend
ing bill run from five per cent. or
$4,000 incomes up to 80 per cent. Thu
new rates probably will graduate from
six to IS per cent. With the increased
, the total income tax returns to the
government would be 31.052.0 200. 900. Of
, which S71s.700.000 would be the wal
levy. against s6a2.7oo.oo0 proposed II
the House bill.
The committee decided to add a tar
of 81 per gallon more on distilled
spirits and so cents more per barre
on malt and fermented liquors. Thes,
taxes would provide q total increas,
of 32.10 per gallon on distilled spirits
which now pays $40. and OF S1.75 PEI
barrel on beer. now paying $3.50.
. Chairman Simmons said tonight tina
while new and increased consumption
taxes are being considered by the com
mittee. he thought the few million
OF revenue needed to bring the bill
: to about $4,000, 1000. 900 probably coul,
be found without raising the consump
ton taxes These tentative increase
} proposed for these are OF Y cent
} pound on sugar. u cent on coffee an,
: or cents on tea. The rates nov
in the bill are v cent a pound on sugar
: 2 cents on coffee and five cents Of
tea.