Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1917-09-28
Total Sum to Be Raised Is Now
Estimated at Approximately
7OO,OOO,0OO in Addi-
ton to S1,333,0 100000.
EXCESS PROFITS MUST
BEAR HEAVY BURDEN
Zone Postage Rates for News
papers Restored and Moving
Picture Houses Are. to Be
Severely CinChed.

-
Washington, Sept. 27.--The war tax
bill increased to raise about $2,700,-
100000 in addition to $l,333,00 ,000
secured under existing law, was com
pleted today by the senate and house
conferees
Presentation of the conference re-
port tomorrow is planned The bill's
enactment into law next week is re-
garded assured.
Taxes of between $3.50, 900, 900 and
$500, 100000 over the senate bill
which totalled 100000 were
added by the conferees. As passed by
the house the total was $1,S6S, 900,
900.
Senate levies of 81 $50, 100000 on
war excess profits and $S42, 1000, ,00O
on incomes were substantially un-
changed. the conference increases be-
ink divided among many items, with
a few taxes added and many eliminat'
ed house provisions restored.
Excess Profits Rewritten.
The system of levying war excess
profits, however, virtually was re-
written in a compromise between the
senate and house systems. A mini.
mum exemption of per cent on in
vested corporate capital is said to be
provided, with modified allowances
for intangible assets.
The only change in the senate in
come tax section was to rearrange
and harmonic a few graduated sur.
taxes on incomes over $4,000, with
out substantial change in revenue re-
turns or individual taxation. Normal
taxes on individual and corporations
and me lowered individual exemp-
tions as revised in the senate were
approved.
Postage Rates Raised,
Cf the $3.50, 100000 to S300,G0o,00
additional agreed to by the conferees
about one-third was placed upon post
age. The house 1-cent letter tax, es-
timated to raise s70,000,000, which
was stricken out by the senate, was
restored by the conferees, and their
agreement for a graduated zone in
crease on second class mail rates Is
estimated to raise some millions more
Another large increase was in pas
senger transportation and Pullman
accommodation taxes. Amusement
admissions also bear considerable
increase, with senate exemptions OF
outdoor parks and attractions re-
jected.
The senate provision exempting
moving picture theaters charging "a
cents or less from taxation was chang
ed and provision made for exempting
only the cheaper theaters.
Other Changes Made.
Revenue from automobiles, patent
medicines, perfumes and cosmetics
and other manufactures also would be
increased.
The 1-cent stamp tax on bank
checks, eliminated in the senate, esti-
mated to raise $40, 100000, is reported
to have been restored to the bill.
Among house provisions abandoned
were the retroactive tax on 1916 in
comes, estimated to raise $10S,000,.
600; a general 10 per cent tariff levy
estimated to raise 0O,O00,O00, and
consumption taxes on gas, etc, and
local telephone service, estimated to
bring in $30,000,000.
Another action understood to have
been taken was restoration of the spe-
cial tax of 16 per cent on munitions
manufacturers, estimated to raise
$29. 100000.
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.