Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-08-27
DRAFT Of REVENUE
BILL NEARLY READY
Differences Between Treasury De-
partment and House Com
mittee Only Obstacle.
M'AD0O AND KITCHIN CONFER
Republican Plan for Congress to
Cooperate With President in
Eliminating Waste Fails.
M'ADOO AND KITCHIN CONFER
tBv Associated Press. ]


WASHINGTON August 2s.-Difrer-
ences between the Treasury and the
House Ways and Means Committee as
to the levyinE of 3 per cent differ
entail on unearncd incomes appeared
tonight to be the only obstacle to COM
pletion OF the drafting OF the revenue
bill designed to raise 5000. 600 900 by
taxation in the present fiscal year.
steps toward bringing about an agree
ment between the committee and the
treasury were considered to-day be-
tary. McAdoo. Another conference will
be held tomorrow. Because of the
Treasury Department. Mr.. kitchin to-
night indicated the committee might
House before Friday.
Coincident with negotiations started
Hntiprohibition leaders to postpone the
effective date Of the wartime national
ol' nrohibition ,.; measure to be taken UP
dealing with taxes on intoxicating
LIQUORS became known.
The committee session to-day was
marked by an attempt by Representa-
tive. Moore, Republican. of Pennsyl-
vania, to attach to the bill an amend
ment authorizing the appointment of
4 joint congressional committee to CO.
operate with the President in eliminat-
ing waste and extravaganza in the con-
duct OF the war. The plan. which would
members OF the Senate and House to
confer with the President and heads
OF departments on all matters relating
TO war expenditures. reporting to Con-
grcss. was rejected by the committee by
a strict party vote.
CONTROVERSY on UNEARNED
INCOME DIF'FERENTIAL
In the controversy on the unearned
income diffe;ential. Secretary McAdoo
has contended that failure TO make the
normal taxes as high as l2 per cent on
cess of the next Liberty loan The
committee has fixed the rates at 10 and
l3 per cent. but. it has been stated
opinion is against writing into the bill
any provision which might endanger
the Liberty loan. Both the Treasury and
ne committee are understood to have
agreed that the differential is not to
$1,000. s2o 900 incomes oe'0w $4'ooo or above
The committee. discussed a number
or things to-day. including a provision
egarding inadmissible assets in the
calculation of capital under the excess
hTohts tan, Chairman Kitchin said.
Inadmissible assets include stocks and
ponds other than United States OBJ
legations from which income and
dividends are not used in computing in
The bill as tentatively agreed upon.
extent that It is Invested in commonly
credited as. part of tho invested capital
me ne committee probably will modify
raised in the committee that it would
hermit companies with the large bond
cu ihueotedneSS TO carry municiDal and
nther bonds and thus obtain unfair
The schedule for the taxation Of bev-
erages PROPOSES that all distilled
imported, shall be subject to " tax of of
gallon pef If PFGor brow salS9 ploo9 vine
distilled spirits be witHdrawnn nG9Ia for man. she
ufacture or production. the tax would
be doubled.
distilled spirits n tax Of $3.50 Der VINE vine
fd,.sl, Of 80 cents a proof gallon is to be
produced by redistillation of aroma
country or imported and held for or sale saie
when the bill becomes law. floor tax
ep,ris OF $40 Is prop9Gsed In event these
eraEes or beverage manufacture. the
floor tax would be doubled.
rel of esona tax on or Sc bar
liquors; on wines the tax is is cents Cents
cent alcohol; 40 cents for II to 81 per
cent; 81 for p to "a per cent, and the
ns more pb6a 1ban !aS q per or sen
grape brandy or wine spirits used in
0ceyns %"fs IS Is RbsoPassad 70
per half-pint in bottles; artifcially
carbonated wine, 6 cents per half
pint bottle; liquors, cordials and such
beverages. cents a half-pint. On ali
ducer an additional tax of 90 cents n
gallon is to be levied on grape brandy
or wine spirits used In fortifying. and
on all grape brandy or wine. spirits
Withdrawn by a producer of sweet
Included in the schedule is an inde-
pendent tax of so per cent on the sale
prices of beverages containing less
the manufacturer. producer and i'm
porter and 20 per cent on all unfer-
mented grape juice, ginger ale, root
beer, sarsaparilla, pop. artificial min
eral waters and other soft drinks. and
. cents gallon on all natural min.
eral or table waters in bottles and
on other waters selling for not more
than 10 cents n gallon.