The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-01-09
cONFEREES AGREE
ON REVENUE BILL
Income Rates for 1920 Fixed to
Reduce Total Amount
of Collection.
PASSED BY PARTY VOTE
Democratic Majority in Each
House Practically Insures
Passage of Measure by
Present Congress.
PASSED BY PARTY VOTE

Washington. Jan. S--The conserees
of the senate and the house on the
re venue bin today agreed to the sem
ate amendments on the normal in
come tax rate. the individual income
surfaces and the. exemption of state,
county and city bonds from taxation.
Included in the sections agreed to is
the senate provision fixing the income
rates for 1920. which is part OF the
plan adopted by the senate to reduce
the collections for that year to s4,-
eoG-ooo, 900.
The normal income tax rate for the
ensuing Y ear under today's agree
ment. Will be - per cent OF the net
income in excess Of the personal ex-
emption Of $1,000 for a single man,
and $1,000 for married man. and
5000 for each dependent child; upon
the first $4,000 Of such income. how
ever the rate will be only 6 per cent.
For the year ending June 80. 1920.
the rates will be per cent and four
per cent, respectively. 1t was an
ferees. the first held since the bill was
passed BY the senate. was marked by
extreme harmony and that the agree
mens was reached without much
debate. The 1920 plan was adopted
hy party vote as in the senatas but
the democratic majority in each
house assures final acceptance OF the
plan whenever the bill Is reported.
The schedule Of surfaces adopted by
the senate and agreed to by the con-
ferees today provides sor the coflec-
ton Of tho following taxes on net In
come. in addition to that collected
under the normal tax.
On the amount OF income In excess
Of $1,000 and not over 5000, one
per cent: between $1,000 and $1,000.
! per cent; between 50, 900 and t10.-
006.' 8 per cent; between $t0.666 ard
$4,000, four per cent; between SIR
900 and $4,000. Ave per cent: be-
tween $4,000 and $4,000. six per
cent; between $4,000 and $4,000.
seven Ter cent: between $4,000 and
$4,000. s per cent: between 100000
and $4,000, nine per cent: between
$4,000 and $4,000, ten per cent; be-
tween $4,000 ard $4,000. eleven per
cent: between $4,000 and $4,000.
twelve per cent.
Between sss, zoos and $50. 900.
thirteen pcr cent between $780, 80
and $4,000, fourteen per cent: be-
tween ss20 600 and $4,000. fifteen per
cent: between $4,000 and $4,000.
sixteen per cent: between $4,000 and
$4,000. seventeen per cent: between
&oo.VVy nH0 HNVsVvysA Cl6AIEGu p-x
cent: between $4,000 and $4,000.
nineteen per cent; between $4,000
and $4,000. twenty per cent: between
s44. 900 and $4,000, twenty-one pr
cent: between $4,000 ~Hnd s4s. 1000
Swenty-two per cent: between $4,000
and $50. 600, twenty-three per cent
Between $4,000 and $4,000.
twenty-four per cent: between $4,000
and $4,000. fwnty-five per cent; be-
tween $4,000 and $5s.000, twenty
six per cent: between $4,000 and
$5s. 900. twenty-seven per cent: be-
tween s5S.a00 and $4,000. twenty
eight per cent: between 100000 and
$50. 900. twenty-nine per cent; be-
tween ss3.ooo and ts4.Ooc. thirty per
cent; between $4,000 ana 3eS.O00.
stfirty-ore per cent: \ betw~en 4St. 900
and S6s.e00, thirty-two per cent: be-
tween $sS.00o ana 97A.e40, thirty
472.0o0, thirty f0taF ri oent: be-
Ftween ~. AZ thirty svs
q ccEt n sIA t78a-