Pine Bluff daily graphic., 1917-07-01
Incomes and Excess Profits Will Bear About Two
 Thirds Burden of War.
NEWSPAPERS WILL
 PAY BIG PORTION
Tax on Profits and Increase in Sec- Ond Class Mail Rate Will Bring $1O,- OO,OOO--LiquOrs and Tobacco
 Will Pay Heavily.

the $1,S00,000 900 war tax bill, passed by the house five weeks ago, was com pleted today by the senate finance committee.
 The measure virtually was rewrit- ten and reduced to s1.652,1700oO, with no authorization for additional bonds. The final draft was sent to the printer tonight and will be given formal committee approval Monday, and reported to the senate by Chair man Simmons early next week.
 Incomes and excess profits will bear about two-thirds of the new tax burden under the revised bill, about half billion dollars each, with a large share of the remainder coming from liquors and tobacco.
 Radical increases in the excess profits tax decided upon today, en- abled the committee to dispense with the suggestion for an additional bond issue of from $500, 100000 to $1,000,- O00,0OO Senator Stone withdrew an amendment for an issue of $500000,- 900. While the bill falls short of the treasury estimate for next year, the committee decided that by issuing $135,COO00O of authorized but unsold Panama canal bends, the expenses can Ee met until congress reconvenes in December.
 Newspapers to Pay $10,O0O,OO0.
 As finally drafted, the much debat- ed publishers tax section proposes a per cent tax on publishers profits over $4,00O, yielding S7,500,000 reve- nue, and an increase of one-fourth cent pound in second class postage rates, yielding $3,O00,000.
 Excess profits due to the war, under the revised bill would bear $730,000,000 in taxes, graduated from 12 to 40 per cent, according to the proportion of excess. This is an in- crease of $505, 100000 over such taxes under the present law, of which the repeal is proposed, and $3O50O0,OOO more than was proposed by the house bill.
 From income taxes, $532,700,000 would be raised, $66,000,0O0 less than the house provided, the decrease being made entirely upon incomes of $46,- 900 annually and above.
 Comparison of Revenue.
 A comparison of estimated revenue to be gained from other sources under the revised bill and under the house bill follows:
 Liquors, $155,Ooo,0oO against $151,- 100000.
 ~ Tobacco, $5e,eoo,ooo against $es,2oo,- GOO.
 Freight transportation, $77,5Oo,000, unchanged.
 Passenger transportation, $37,500,- 0C0 against $75.0O0,O00.
 Autos, $40,000,000 against $6S,000,- coo, payable by car owners.
 Amusement admissions, $23.000,000 against $6O,0o0,000.
 First class mail, $50,00O, ,O00 against $70,O00,O0O, by retaining the one cent rate increase for first class mail and striking out the increase or post cards.
 ~ Tax on Bank Checks.
 All spanish war stamp taxes would be virtually reimposed, under the bill The committee added new tax of one cent on bank cheeks over $5. Other changes in the revised bill include: I
 Prohibitive tax to stop the manufac- ture of distilled beverages, while taxes on other intoxicants are virtually doubled; 9
 Elimination of the house taxes of $6,000,000 on inheritance and $1O8, 8,OO0,- 900 retroactive taxes on 1916 incomes;
 Repeal of the special 12h per cent tax on war munitions;
 Repeal of the drawback reexport allowance given sugar refiners:
 Extension to parcel post packages of a tax of one cent for each 25 cents paid for express transportation
 Elimination of house taxes on con- sumers' electric light, power and gas bills, all insurance, jewelry, club dues, tires and tubes, chewing gum, motion picture films, musical instruments.
 In decreasing the levy on excess profits, the committee also provided for taxation on corporations undis- turbed surplus.
 s New Jersey farmers report volun- E~-