The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1920-11-19
WOULD DELAY
ANY TAX REVISION
PenrOse Urges Republicans
to Wait Until Special
Session
WILSON MAY VETO
TAX LEGISLATION

This Could BE Avoided BY Waiting In
til Harding Assumes Office - Excess
Profits Tax Cannot Be Repealed for
Calendar Year of 1920. ~
WASHINGTON. Nov. 10. In tbel
opinion of Senator Penrose. chairman. oil
the finance committee, communicated fol
senatorial colleagues here and to infuen-I
tial members of the ways and means
committee, no attempt should be made
to repeal the excess profits tax or amend
the revenue laws until the special session
OF congress, which President-elect Hard
ing has announced that he will call soon
after March T.
Senator Penrosc said that in his opin-
ION anything that might be done by the
republican congress along these lines
would probably be vetoed bv President
Wilson, and. therefore, it would be a
waste of time for the Republicans to at
tempt TO carry into effect party policies
during the final months of the Wilson
administration.
ut may be wise not only to repeal the
excess profits tax but to simplify tax
forms for the calendar year 1920" said
Senator Penrose, but | do not believe
that the concensus of opinion in congress
would favor undertaking the repeal Of
any taxation schedules until the ReDub-
leans enter into full control of the gov
eminent. | myself favor simplification Of
| the tax forms so that the taxpayer can
| know what he has to report. l hope that
we may do this before the taxpayers are
! required to make the 1920 report
Senator Penrose further indicated that
no advantage could be gained by repeal
/ ing the excess profits tax at the coming
| session, as congress undoubtedly would
not favor repeating the tax for the caIan-
! dar year of 1920, and there was sufficient
| time to repeal it at the special session,
| when other features of the revenue law
would be considered and general revision
| might be undertaken.
! There is such demand from business
men for repeal of the excess profits tax,
| supplemented by the recommendations of
| treasury officials that there is reason To
| believe that congress viii not delay ac-
/ tiOn until the whole subject OF tax rgvl-
| sion can be undertaken. 1t is the opinion
of those concerned with taxation mat
| ters that tins tax will be repealed early
Hin the special session SO that the tax need
I mot be collected for 1921. This must be
] done in the summer OF 1921 or. according
! to Secretary Houston, it viii be neCes
sary to collect the tax for that calendar
year.
What Is pulling the authorities j. how
| to find Il substitute for this tax. There
| is no argument against it's repeal I'm the
| ways fapd mcaISt committee last session.
! RI @. Leffingwef. then assistant secre-
/ taf% Of the treasury suggested that the
income tnx might he increased to provide
! UeVthlues coming from excess prohiE
/ Tins Wow VAS Oppressed bys the commit
| tee. which WIS lteasly ready to accent a
tax on sales and real estate transfers
Many object tp,F sales tax.
Another suggestion IS to repeal the
profits tax without trying to supply an
other source Of revenue to take its place.
| In such "a case the expenditures OF GOV