Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1919-02-07
6 BILLION
TAX BILL
IN HOUSE
Revenue Measure Formally
Presented and Will Be Call
ed Up Tomorrow; Final
Draft Contains Revisions

fBE REVIEW Leased Wlrel
WASHINGTON, Feb. 6. - The six
billion dollar war revenue bill, the
greatest tax measure in the history
of the world. was formally presented
today in the house and viii be called
up Saturday. 1t hal been six months
in the making, had been passed once
by the house, and had been revised
twice to meet the transitions from
war TO peace, and from wet" to
dry nation.
Representative Kitchin, democratic
leader, expects the house to approve
the measure agreed to by senate and
house conferees- adjournment
Saturday night and Senator Simmons,
chairman of the senate finance com
mittee, will present il in the senate
as soon as the house has acted. Ap
proval by both houses is confidently
expected by leaders of both parties.
The completed measure Will not be
sent to France unless the presidents
departure for home is delayed we'll
beyond the date now set for MS sail
ing. The president is expected &c
sign the bill soon after his arrival
here. In the meantime, the internal
revenue bureau is proceeding with
preparations for collecting 1919 taxes
on the basis of the schedules as con-
tanned in the measure reported by the
conferees.
Enactment Predicted.
Considerable dissatisfaction with
several conference provisions was
evident at the capitol today after
copies OF the final draft had been
distributed, but leaders generally pre-
dicte1 the ultimate enactment of the
ccnferees' report
Some debate in the senate was
forecast. but this was not expected to
| long delay final approval
About one-third of this years esti-
mated federal expenses are provided
/ in the bill which, uniformly following
the original house plan and the peace
time notifications of the senate. pro-
I vides that the bulk of revenues shall
/ be secured from. incomes. corporate
I and individual, and war excess profits.
Large revenues also are expected
! from Intoxicating beverages until July
II. when prohibition legislation be-
comes effective
Yield Over Ten Billions.
/ Estimates of the exact revenue re-
turns in prospect vary. Unofficial
+, estimates published today place the
yield at about s6,OS6, 600. 600 this year,
and S4,150.O00.0OO in 1920 Estimates
prepared by committee and treasury
experts indicating prospective returns
this year of about 5000, 600. 900, com
pared with about $4.370, 600. 900 from
existing tax laws will be made public
tomorrow by Representative Kitchin
The s6,07O,O00.O0O for this year is
based on prospective taxes for the
fiscal year ending July ! next, includ
ing six months revenues from intoxi
cants. Returns for the present cal
endar year are estimated by the eX
perts at about $5.7SS, 900 900.
Emphasis was laid tonight by con
ferees on the retention, for the ben
eft OF business interests. OF virtually
all of the so-called cushion provision.
"in the income and war profits sched
ules. Regarded among the most i'm
portant OF these is a new cOnferenc,
amendment allowing rebates in take:
to business interests suffering shrink
age in value OF their merchandise a
shown by Inventories, together witt
allowances for losses in construction
OF war buildings.