Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1919-02-13

Washington. Feb. 6.-With the submits
ZION to Congress to-day of the conferees'
agreement on the long delayed war rev.
enue Dill, the American people were pre-
Hented with their prospective federal tax
budget for 1919 and ensuing years-some-
thing over $4,000, 100000, this year and ST.
600 thereafter, subject to the rev-
sion of future rates expected to be under
taken by the next Congress
The conferees' report, presented to the
House by Democratic Leader Kitchen.
was regarded as assured of adoption by
both House and Senate and of approval
by the President.
Except for slightly increased war exc
ress profits rates for 1919 and corporation
Income tax rates for 1920. virtually all the
rates are revised in the bill passed by the
Senate approved by the conferees and
remain in the final conference draft.
Like the original house bill and the SEN
Rte's revision. the bulk OF the taxes are
levied on war excess profits Of corpora
tions and on incomes. individual and cor
porate Rates of the Senate on trans
portation, beverages. cigars and tobacco.
amusement admissions, club dues. lux
uries and semi-uxurien, stamp and spe-
cial taxes all substantially were adopted
by the conferees, while the House rates
on estates and insurance were reinstated
PRINCIPAL RATE INCREASES
The principal rate increases agreed to
in conference were to raise the cor
poration income rate for 1920 from eight
per cent. as proposed by the Senate. to
ten per cent. and an increase from 60 to
IS per cent. in the second or sliding
rate on corporation excess profits for
this year The 80 per cent. war profits
tax for this year was adopted and. upon
insistence by House conferees. extended
to 1920, but made applicable next year
only upon such profits from government
war contracts. The excess profits
bracket" rates Of 20 to 40 per cent for
1920 also were approved.
Virtually all the called relief pro-
visions or cushions" of the Senate. de-
signed to prevent hardshlps in imposi-
ton of the corporation taxes, were
adopted.
In ile important income tax section,
the bill retains all Senate rates. normal
and surtaxes including that of II per
cent, double existing law. corpora
tons income of last year in excess of
credits previously allowed. but fixes the
rate for subsequent years at ten per
cent
The IL per cent normal rate on individ-
ual incomes earned last year and the
eight per cent. rate payable In 1920 are
retained with individual exemptions OF
$1,000 for single and 5000 for married
persons. and an additional exemption OF
500 for each dependent minor. Also
adopted are provisions that individuals
shall pay only six per cent. this year and
four per cent. thereafter on the first 81, 00t
subject to tax above exemptions The
Senate individual surfaces, ranging from
one per cent. on income between $500
and $1,000 to 65 per cent. on more thar
100000 also were approved.
SOME IMPORTANT RIDERS"
OF the important general legislation ant
riders" the conferees adopted the fol
lowing provisions:
Levyng prohibitory tax on products
OF child labor.
Restoring pre-war postage rates or
letters and postcards July ! next.
Providing a pay bonus Of $50 for al
persons in the military establishment
officers and enl. sted men alike.
Extending the Reed "bone-dry'' prohi
btion law to the District Of Columbia,
1-araasiug from SIS to 1900 tho tax OF