Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-09-28
CONFEREES AGREE
ON WAR TAX BILL
Additional Excuses of Nearly
$30O,oOO,OOO Over Senate
Measure Added.
GRAND TOTAL, s2.7o0,o00,oo0
About Third of Increase Placed
on Postage, and Amusement
Admissions Bear Big Part.

WASHINGTON, September 27.-The
war tax bill. increased to raise about
S2.700, 100000 Federal revenue in ad-
dition to sl.333,o0o,0o secured under
existing laws. was completed late to-
day by the Senate and House confereeA
After two weeks dcliberation. the
conferecs reached agreement on the
bill--the largest in American history,
and In the making four months-and
sent the revised draft to the printer
Only formal approval OF the new draft
remains to be voted.
Presentation of tho conference re-
port to the House late tomorrow is
planned. 1t will be considered first by
the House and the bills enactment into
law next week is regarded assured
Additional taxes of between $780,
100000 and s30o.0oo.0o0 over tho SEN
ate bill. which totalled s2,4l6, 600. 600
were added by the conferees. AS passed
by the House the total was s1,s6s,Ooo,-
oOo
Senate levies of sl.oGo.o00. 900 on
war excess profits and ss42,2Oo.ooO on
incomes were substantially unchanged.
the conference increases being divided
among many items, with a few new
taxes added. and many eliminated
House provisions restored The sys-
tenn OF levyinG war excess profits taxes
was practically rewritten in com
promise between the Senate war pro-
hts and House excess profits systems
minimum exemption of per cent
on invested corporate apital is said
TO be provided, with modified allow
ances for intangible assets.
NO SUBSTANTIAL CHANGE
IN INCOME TAX SECTION
The only change in the Senate in
come tax section was to rcarranpe
ana harmonize few graduated sur
taxes on incomes over $4,000. with
opt substantial change in revenue re-
turns or individual taxation Normal
taxes on individuals and corporations
anu the lowered individual exemptions
as revised in the Senate were approved.
Liquor and tobacco sections of the
senate draft also were practically un-
changed, although slight decrease In
revenues from whisky and manufac-
'hred tobacco probably will result.
OF the @250.ooo.o0o to $500 900 ooo
additional agreed 10 by the conferees
about one-third was placed upon no,
'aGe' The House l-cent letter TAX.
estimated 70 raise $4,000. GOO. which
was stricken out by the Senate was
restored by the conferees, and their
agreement for graduated zone in
crease on second-class mail rates ia
estimated to raise some millions more
another large increase ordered was
III passenger transportation and Phil
man accommodation taxes. Amus..
'heht admissions also bear a consider.
able increase. with Senate exemntions
OF outdoor parks and their attractions
changed. and provision made for ex-
empting motion picture theaters charp-
ing Is cents or less from taxation. was
changed. ind provision made for OK.
emptins only much cheaper theaters
me exact exemptions have not been
disclosed
i-CENT STAMP TAX on CHECKS
REPORTED RESTORED
Revenues from automobiles. 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 $4,000. 900. is reported to have
been restored to the bill.
Among important House provisions
abandoned were the retroactive tax on
1916 incomes, for general 10 per cent
tariff levy. estimated to raise 5000.
100000. and consumption taxes on gas,
electric and local telephone service, es-
timated to bring in S30,000,O0o.
Another important action understood
to have been taken was restoration of
the special tax of Is per cent on mu-
milton manufacturers, estimated to
raise 100000. The Senate provision
for It's repeal was stricken out.
Official announcement of the princi-
pal features of the conferees' work
probably will be made tomorrow by
Senator Simmons and Representative