Bisbee daily review., 1918-11-28
BILL REVISION NOW
 IS COMPLETED
Senate Finance Committee Decides on Terms, Vote Be ing Cast Along Strict Party Lines
CBy Review Leased wire)


 WASHINGTON, Nov. 27.-Revision of the war revenue bill was substan- tially completed tonight by the sen ate finance committee. Amendments perfecting the program of raising six billion dollars in 1919 were adopted, and by a strict party vote, the com mittee formally approved Chairman Simmons plan to raise four billion dollars in 1920. through reduction of individual and corporation income rates, elimination of the war profits tax and reduction of the excess prof its rates.
 With the seven republicans of the committee voting sOlidly in opposi- tion, the ten democrats adopted Chair man Simmons plan for 1920 to reduce the normal income tax rate for in dividuals and corporations from 12 to 8 per cent, to abolish the SO per cent war profits rate after 1919. and to re- duce 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.
 Although the committee now prac- tically has completed the bill, it be- came known today that the internal revenue bureau has almost despaired of the enactment of the measure be- fore January l, and has made full plans for collection of taxes under the old law. by which it is estimated only $4, ,OO0, 100000 would be produced next year The old law, which remains ef- fective until repealed by the new rev enue bill. specifically enjoins the com missioner Of internal revenue to pre- pare forms for use of taxpayers to report their incomes, profits and other taxable matters between January l and March l.
 Daniel C. Roper. revenue commis- sioneT, also explained today that he would be forced to administer excise. floor, business, transportation and ether taxes collectable monthly under the old law after January l, If the new measure is not finally enacted by then The collection of additional sums, resulting from Increased rates under the new act. or repayment of taxes collected under schedules re- placed by the new act, then would pre- cipitate much confusion, it was ex' plained
 Both the programs for 1919 and 1920 taxation, except for minor amend ments to be made when the commit. tee re-convenes next Friday. virtually were completed today After Fridays meeting a reprint of the bill will be made and Chairman Simmons plans to report it to the senate some time next week The republicans an nounced their intention to oppose in- clusion of 1920 rates in the bill and may file a minority report.
 Chairman Simmons plan for 1920 revenue was adopted without change. It's provision for reduction from F to per cent in the normal rates on individual incomes also provides that the rate shall be 6 per cent in 1919 and per cent in 1920. on the first S40O0 of taxable incomes.
 Chairman Simmons said Secretary McAdoo does not approve the 1920 program in its entirety. as he desired higher normal rates to continue on both individual and corporation in- comes and also opposes continuation of the excess profit plan.
 Among less important decisions of the committee today. were rejection of proposals by Senator Shoot to im- pose a l per cent tax on gross re- tail sales and to exempt corporations with less than S1.O00.0O capital from excess profits taxes. The committee also considered requests to abolish the floor. or stock taxes on tobacco, but decided finally on their retention.