Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1917-07-31
NEW WAR REVENUE
SENATE BILL CALLS
FOR $1,943,OOO,O 900
tentative Plan Is to Get $780,
100000 From Higher In
come Tax, the Rest From In
dividuaIS and Corporations

WASHINGTON. July 2s.-A new war
revenue bin TO be submitted TO the
senate Thursday will carry sl,s4s,OoO.-
600. the senate finance committee agreed
late today. The present senate reve-
nue. bill totalling s1.67O.OO0. 900. must
be increased s273. 100000 by increases in
the income taxes of individuals and cor
porations ami excess profits taxes.
Members OF the committee said to-
night IL Is possible the total of the bill
before II gets 20 the senate will be So
COO. 00O, 900. According 10 the present
plan. about $3.50. coo. Zoo of the increase
will be obtained through higher income
tax rates-s7O. coo. 600 from individuals
and the rest from corporations. The
committee figured on an increase in
the normal rate of individuals from TO
5 per cent. and on corporations to
per cent The rest OF the increase may
be obtained by increasing the excess
profits tax and by consumption taxes
on sugar. tea. coffee and cocoa
Under the program, sl.0e2. 100000
would be the total levy this year upon
incomes. The present law yields $780,
600. 900. The pending bill originally was
designed TO increase this by s5s2.7oO.-
eco. and the s23O.OOO.0oO additional it
now is proposed 10 levy would raise
II over the billion mark.
PART FOR HOUSE.
The senate committee will confine its
work for the present TO the present war
tax bin and will leave TO the house the
task of raising the rest OF the $1,000
10000 the administration believes II
must have to prosecute the war TINS
year Majority Leader Kitchen, of the
house, was in conference with the senate
committee today and this decision was
reached as a result OF his contention
that the house might resent any sena-
toriaI infringement on its constitutional
prerogative OF instituting revenue leg
Islation Whether the house will pre-
fer 20 authorize 81, 200. 100000 in bonds
or treasury certificates TO supplement
the s. 600 O0O. 600 the senate is provid-
fng. will not be determined until next
week.
Income tax increases proposed. Chair
man simmons announced tonight
represent the consensus OF the com
rnittee's opinion They probably viii
stand. as the committee was ready 10
formally vote on the upward revision
late today. but deferred final action
until Monday"
The decision today to leave to the
house the task OF providing s5,0oO,ooO.-
600 additional. promised greatly TO ex-
pedfte senate action on the pending rev
enue bill.
DEBATE THIS WEEK.
Senator Simmons said the committee
plans TO complete It's revision Tuesday
and report the bill TO the senate for
beginning Of debate the latter part OF
next week
Senator simmons said tonight there rs
no immediate necessity for the senate
20 consider revenue questions beyond
the bill.
There is no occasion for Immediate
ly providing revenues TO meet the ne"
estimates" he explained. There may
be no necessity for further revenue
measures until the December session
With the pending bill there are ample
funds 10 meet all calls until Deem
her."
The committees agreement to In
crease income taxes by s2SO,00O.OOO In
increasing the pending tax bill from
$3.50. 100000 to at least sl.9iS,OOO,ooO
was said TO be based upon belief that
the bulk of the increase should come
from incomes rather than war profits
already heavily taxed in tine bill.
The committee gave much time 10
discussing reconsideration OF ths
amendment. already written into tns
bil. levying a tax of fifteen per cent
mon corporations undivided or undis'
.rfhuted surplus This is known as
the amendment of Senator Jones, OF
New Mexico. and has been vigorously
opposed bv corporations. There was
much opposition to changing this sec