The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-02
ELECTION HOLDS UP
TAXATION SCHEDULE
Senate Labors Over Clumsy
Features Of Assessments
on Incomes.
TREASURY FORCED TO ACT
Kitchin Fails to Get Measure
Through in Time to Pre-
vent Special Issue.
ansclai DespafcA 70 Tn eus.

WASHINGTON, Oct. i.-Business and
the people OF the country cannot posi-
bly, know definitely the amount OF the
taxes they will be called on to pay IN
I'll after election. This 10 now con-
coded by members Of the Senate Finance
Committee. When the COMMITTEES ad-
journed to-day II was only part way
through the income tax title OF the new
revenue bill, the frst of its lengthy
titles
The delay Of tho ways and Means
Committee and the House in acting on
the bill giving the Senate q chance to
hurry 1t through before the opening OF
tho Liberty Loan drive made II neces-
sary for the Treasury Department to
issue a $4,000. oo0. 900 loan instead OF
$4,000, 100000 loan. Had the bill been
2s, as repeatedly urged by the Secre-
tary of the Treasury, It would only
have been necessary TO issue q $b,o0o'-
900, 900 loan at this time.
Authority for this statement Is found
in the testimony sent by Mr.. McAdoo
before the Ways ana Means Committee
urging Chairman Kitchin (North Caro-
lina) TO use every means OF expediting
the passage Of the bill On August II
IF we should be able to, get the bill
through before September IS, I think we
could rely upon the sale of certificates
OF indebtedness maturing at the tax
payment date or dates to reduce tho
next Offering Of bonds by $1,000. 900. 900,
which would be q happy thing for the
country"
through the House until September 20.
To follow out Mr.. McAdoo's desires this
left Just eight days. including Sundays.
for the Senate Finance Committee. the
Senate itself and the conference between
the Senate and House to go all through
the bill. correct it's inequities and have
II signed by the President. Manifestly
this was impossible.
The Senate Finance COMMITTEES is en-
tirely out OF harmony with many OF the
ideas Mr.. Kttchin wrote into the bill and
the committee is expected to mako i'm
portant changes. The real fight on the
measure undoubtedly will come IN con-
ference when Mr.. Kitchin will make a
protracted last stand for leaving in the
bill the Objectionable excess pronts taxes
and the differential or distributed and
undistributed corporate income.
The silver lining to the cloud in hav-
ing had the bill delayed IN tho House
until II was impossible to comply with
the urgent request of the Administration
IL the fact that II Is admittedly impos-
sible to get the measure out Of the way
in q hurry now. and the Senate Finance
Committee will take It's tirno IN seeking
to correct its absurdlty and defectA At
tho rate at which the Finance Commit
tee has been proceeding It is probable
that several weeks will elapse before the
bill Ia ready for the Senate.
Allowing two weeks for the Senate to
pass the measure the necessarily lengthy
conferences with the House cannot be-
gin before the middle of November. As
the period for election campaigns will
start about October 20 1t is safe to say
that little will be accomplished from the
time the Liberty Loan drive ends until
after election.