Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-11-28
ADOPT SIMMONS
i REVENUE PLANS
Democrats Force 1920
Amendment Through
Finance Committee
BILL ABOUT COMPLETED
Republicans Announce Inten-
ton of Fighting Change at
Meeting Friday
BILL ABOUT COMPLETED

Washington, Nov. 2S.--Rcvision OF the
pleted last night by the Senate Finance
Committee. Amendments perfecting the
program of raising $4,000, 100000 in 1919
were adopted and by strict party vote
the committee formally approved Chair
man Simnons's plan to raise $4,000, ,000,-
: 900 In 1920 through reduction of in
dividual and corporation income rates,
= illumination of the war profits tax and
reduction of the excess profits rates.
With the seven Republicans of the
committee voting solidly in opposition,
the ten Democrats adopted Chairman
Simmonss plan for 1920 TO reduce the
normal income tax rate for individuals
and corporations from IL to per cent,
10 abolish the so per cent war profits
rate after 1919, and to reduce the excess
profits rates in 1920 to a minimum of
20 per cent and a maximum of 40 per
cent, or two-thirds of the 1919 rate.
Collector Fears Confusion
Although the committee now virtually
has completed the bill, IL has become
known that the Internal Revenue Bureau
has almost despaired of the enactment
of the measure before January |, and
taxes under the old law, by which 1t Is
estimated only $4,000, 100000 would be
produced next year The old law, which
remains effective until repealed by the
new revenue bill, specifically cnjoins the
Commissioner of Internal Revenue to
prepare forms for use OF taxpayers to
report their incomes, profits and other
taxable matters between January and
March 1.
Daniel c. Roper. Revenue Commits
sioner, also explained he would be
forced to administer excise floor.
business, transportation and other taxes
collectabe monthly under the old law
after January 1, il the new measure
is not finally enacted by then. The col
lection of additional sums, resulting
from increased rates under the new
act, or repayment of taxes collected
under schedules repealed by the new
act, then would pfeclpitate much con-
fusion, it was explained.
Republicans TO Fight
Both the programs for 1919 and 1920
taxation, except for minor amendments
10 be made when the committee recon
venes next Friday. virtually were com
pleted. After Fridays meeting q
reprint of the bill will be made and
Chairman Simmons plans to report 1t
10 the Senate some time next week
The Republicans announced their inten-
ton to oppose inclusion Of 1890 rates
in the bill and may file a minority re-
port
harman SimInons's plan for 1920
revenue was adopted without change
Its provision for reduction from II to
per cent in the not1ual rites on indi-
vidual incomes also provides that the
rate shall bc per cent in 1919 and 4
per cent in 1920 on the first $4,000 OF
taxable income.
Chairman Simmons said Secretary
McAdoo does not approve the 1920 pro
gram in its entirety, as lie desired
higher normal rates to continue on botl
Individual and corporation incomes and
also orApses continuation of the excess
profits taxation plan.
Among less important decisions Of the
committee yesterday were rejection OF
proposals by Senator ,Smoot to impose a
per cent tax on gross retail sales ant
to exempt corporations with less thar
$1,o00,O 900 capital from eXcess-profts
taxes. The committee also considered
requests to abolish the floor or stocl
taxes on tobacco. but decided finally
upon their retention.