The Washington herald., 1919-01-09
REVENUE BILL
AMENDMENTS
AGREED UPON
Normal Income Tax Rate to
Be 1870 Of Net Income in
Excess Of Exemption.
HARMONY NOW REIGNS
Adopt Senate Plan to Re-
duce Collections for 1920
to -Four Billions,

Inc conferees of the Senate and
House on the revenue bill, yester-
day agreed to the Senate amend
ments on the normal income tax
rate, the individual income surfaces
and the exemption of State, county
and city bonds from taxation. In
Guided in the sections agreed to is
the Senate provision fixing the in
come rates for 1920, which is part
or the plan adopted by the Senate
TO reduce the collections for that
year to $4,000, 900, 900.
The normal income tax rate for
the ensuing year under yesterdays
agreement. will be 12 per cent of
the net income in excess of the per-
sonal exemption of $1,000 for a sim
gle man and $4,000 for a married
man. and 5000 for each dependent
child; upon the first $4,000 of such
income, however, the rate will be
only per cent.
For the year ending June 80, 1920.
the rates will be per cent andL4
per Gent. respectively.
1t was announced that the meet
ing of the conferees, the first held
| since the bill was passed by the
Senate. was marked by extreme har-
mony and that the agreement was
reached without much debate. The
1920 plan was adopted by a party
vote. as in the Senate, but the Demo-
cratic majority in each house as
sures final acceptance of the plan
whenever the bill is reported.
Schedule of Surtaxes.
The schedule of surtaxes adopted
by the Senate and agreed to by the
conferees provides for the collection
of the following taxes on net inc0m..
in addition to that collected under
| the normal tax:
On the amount of income in excess
OF 5000 and not over 81, 900, / per cent;
between 5000 and 5000, 9 per cent:
between 5000 and $1,000, per cent.
between $4,000 and $1,000, per
cent; between s12,0Oo and $4,000. :
| per cent; between $4,000 and SIC. 900,
Is per cent; between $4,000 and SIS
600. per cent; between $4,000 and
! $4,000. per cent: between $50 O0G
and $4,000. per cent; between s22,
600 and s2l,0oa 10 per cent; between
$4,000 and $4,000. IL per cent; between
$4,000 and s2S,0o0. II per cent: between
S2S,oO0 and $4,000, Is per cent; be-
tween $4,000 and s32,O IA per cent;
| between $50, 600 and $4,000, Is per cent:
| between S34 0o0 and s36, 900. Is per cent;
between S36 oOO and $4,000. II per cent:
between S3S,0O0 and $40. 900. IS per
cent; between $4,000 and $4,000, le
per cent; between $1,000 and 81, ,ooO
/ 20 per cent: between $4,000 and s4s,-
/ 600. q per cent; between s4s, 600 and
! s4S, 900. % per cent; between $4,000
and $4,000, % per cent; between so.
900 and $4,000 "a per cent; between
/ $4,000 and $4,000, q per cent: between
$4,000 and $4,000. 9s per cent; between
$50 900 and s5s.OO0 27 per cent; between
! $4,000 and $4,000. q per cent; be-
tween 10000 and $4,000 % per cent;
between $1,000 and $4,000. 80 per
cent; between $4,000 and s6s.O0O, 81
per cent; between $4,000 and sss. 600
| 30 per cent; between SIS. 900 and s7U,-
| eco. 80 per cent; between $4,000 and
$4,000. "a per cent; between sT2, 00C
and $4,000. 35 per cent; between s74.-
O0O and $4,000 IS per cent; between
$4,000 and $4,000. 81 per cent; between
$4,000 and $50, 900. IS per cent: be-
tween $4,000 and $50, 900, 80 per cent;
between $4,000 and $4,000, 40 per
cent: between $4,000 and $50. 900. Al per
cent; between $4,000 and sss.0O. r
43 per cent; between SS0.O0O and s92.-
600. a per cent; between S92. 600 and
s94, 900. 40 per cent: between s94 0Uo
and 1000, 46 per cent; between s96
900 and $4,000. Al per cent; between
$4,000 and 100000. As per cent; be-
tween 100000 and s150,0oO. 80 per cent,
! between $4,000 and 5000, 1000. 56 per
cent; between $4,000 and $4,000. GO
per cent; between $4,000 and $500, =
900, 63 per cent; between s5c0, 600 and
S1,OO000O 81 per cent; income in ex-
cess of s1.OoO.OoO. 60 per cent.
The House provision exempted from
taxation all State. city and country
! bonds issued prior TO the passage of
the bill, but imposed a tax on subse.
quent issues. The Senate struck out
| the proviso. so that in the form final
ly agreed to all such bonds will be
exempted.