The Washington herald., 1918-09-03
|,OOO,OOO,OOO
TAX BILL TO
HOUSE TODAY
m mittee Unanimously
avors Final Draft Of
| Revenue Measure.
EKS VOTE SEPT. IA
bns Plan to Adjourn Un,
til After Elections in
November.

he entire text Of the Ss,ooo,-
boo revenue bill to raise money
carrying on the war was ap-
ed by the Ways and Means
Imittee yesterday, and the bill
go to the House today. Chair
Kitchin will ask to have the
taken up Friday morning. and
present plan is to ask for a
vote on Saturday of next
soon as the bill is passed
!he House, members on both
will ask Congress to ad-
until after the November
lions, leaving the Senate Com
ee on Finance to hold hear
on the bill and have it ready
passage by the Senate some
in December.
MeAdoo's Plan Upset.
Is realized that IT will be i'm
bic to comply with the request
by Secretary McAdoo that the
should be passed by both
fes and signed by the President
re the beginning of the next
rty loan drive. September %.
n should Congress remain in
ion II Is hardly likely that the
could become a law until the
die Of November. For this rea-
the House. with no important
sures on its calendar. is ready
djourn SC that members can re-
to their homes and participate
J y elections.
+ question Of adjournment was
ssed at the committee meeting
Srday after the work on the bin
been finished, and members gen
, agreed that there Is no reason
an adjournment should not be
b. II is understood that Chair
i Kitchin will confer with Senator
Ihons. chairman Of the Finance
1nittee, and Senator Martin. the
rity leader. TO see II it will be
bic to get the Senate TO. agree to
adjournment II this cannot be
J. ss-iSsss-r-in an probability will
it.nue its sessiofs-S under a "Gen-
MS agreement untiNiate- ID Mo
er. I
,mmittee Report Unnnimous.
committees report on the bill,
! Is unanimous. explains all the
res OF the new taxes proposed.
IN be submitted to the House
with the bill by Chairman
I'm. In the report the commit
to explain certain rates
4 are at variance with the rec
made by Secretary Nc
particularly the corporation in
rate and the excess profits rate.
committee had before II yes
" DR.. Adams, OF the Treasury /
rtment. who bore Secretary Nc
is latest word IN protest against !
rate Of IS and II per cent on the i
ne OF corporations. The commit
decided. however, to allow the
TO stand In the bill. I
Amendment adopted today pro-
, that the IL per cent rate shall |
y also on the amount expended |
the payment Of a corporation's
btedpess.
sapertaxes Are Approved.
Ie supertaxes on large incomes
} else finally approved at yes
ay's session.
le committee was advised yes
ay by DR.. Adams that the
rod of calculating the income
which has been followed by the
is wrong and that 1t
"a be done by q different
,od.
e Treasury method Is to make the
Iction for marriage. or 5000 first.
Ing the taxable income only $4,000.
would be subject only to the s
cent normal tax and the supertax
per cent on 5000, and the total
ID be only $50, as against $3.50 in
other.
le Treasury insists that its
iod Of calculating the tax is right
that the committee Is wrong The
u will be a loss in revenue col
ID from all incomes above 5000.
committee. afttr long discussion
committee. after long discussion,
ed to the Treasury and wrote
the bill a clause providing for
tax to be worked out according