Bisbee daily review., 1917-08-31
AGREEMENT IS REACHED UPON
 WAR TAX BILL
Threat to Impose Cloture Rule Enables Senate Leaders to Secure Agreement to Vote on Entire Measure Sept ember 10
fBy Review Leased wire)

| Wu . ASHlNG1ON, August 3U.-An V&I agreement was reached by the w senate late today to take a final vote on the war tax bill not later than Monday. September 10, and the cloture petition filed yester- day was withdrawn.
 Agreement Made.
 The agreement also provides for dis position of the war profits section not later than Wednesday of next week and of the income tax provisions not later than Friday, September '. It provides further for earlier action if the debate ends sooner than expected. The agreement was reached after the day of spirited debate between Sena- tors Simmons and Underwood on war profits, after much negotiation over details and after one senator had blocked an effort to set next Monday as the day for a vote. If the debate runs through until September 10. the bill will have been under senate dis cussion just one month. It passed the house May 23.
 Cloture Petition Dropped.
 Once before at this session, on the food control bill, cloture was initiated and dropped by mutual agreement for final disposition. The cloture petition On the war tax measure was to have been voted on tomorrow. Its propon- ents were confident today of their strength, but overtures for the voting agreement came from those leading the fight for higher tax rates, with all concerned anxious fo avoid imposition of cloture.
 Anticipating possible adoption of cloture, many amendment were intro duced late in the day.
 Senators Hollis, Gore and Brady sponsored provisions to increase the war profits levy to rates ranging from 50 to 66 2-3 per cent.
 Simmons Takes Lead.
 Today's debate was occupied large ly by Senator Simmons, chairman of the finance committee, and Sena- tor Underwood, former house leader and revenue expert. In a three-hour speech the latter vigorously criticised the committees war profits plan and Senator Simmons, with show of much feeling, defended the plan and attack ed Senator Bankhead's substitute, supported by MT. Underwood.
 "Money Slackers."
 Denouncing money slackers" Sen ator Underwood said the committees war profits scheme would work many injustices, exempt many large corpora tions earnings. He opposed principal ly the graduated rates and the bases of calculating profits.
 While the Bankhead substitute bas- ed on actual value of invested cap ital, is estimated to raise s5S9. 9.000, 900 as compared with s1,060, 100000 from the committee plans as increased by the so-called compromise amendments presented yesterday Senator Under wood and also Senator Borah declar ed they believed the latter estimate was much larger than actual results would show.
 Bsnkhead Substitute Denounced.
 Senator Simmons attacked the Bank head substitute as an alleged exemp- tion of much wealth from taxation. He said it was an excess rather than a war profits tax plan, while the com mittee proposal combined both. Ad- mitting that the committee in offering the compromise amendments had ac- ceded to sentiment in the senate and of the public for higher taxation of war profits he insisted that the Bank head plan is basically wrong and would yield little revenue. Senators Shoot and Townsend also criticized the Bankhead proposal, the latter de- claring it would levy on inflated cap italization values and yield practical ly no revenue at all"
 Would Exempt Banks.
 Exemption from taxation of divi- dends declared by banks and trust companies out of surplus and undivid- ed profits accumulated or earned prior to March l, 1913, was proposed in an amendment by Senator Pomerene. Another by Senator Ronsdell would put a tax on cigarettes ranging from two cents on those retailed for not more than five cents to fifty per cent on those sold at 25 cents or more.
 Senator Hollis proposed to eliminate the provision lowering the minimum incomes to be taxed from $4.000 on in- comes Of married and S3.0o0 of un-