Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1921-08-23
numerous. Everybody was agreed
that it was mighty hot day for
baseball game.
TAX REVISION BILL.
Republican Measure Approved by .
Straiqht Party Vote.


tax burden by 1928. was passed last
Saturday by the house, 274 to 125, on
an almost straight party vote.
Three Democrats supported the
measure and nine Republicans voted
against it.
Compared with this number Of Re-
publicans were SO who voted for
Democratic motion to recommit the
bill for elimination of the provision
repeating the income surtax rates
above -32 per cent. This motion was
lost, 169 to 230, with one Democrat.
Campbell of Pennsylvania, voting
against it.
The bill will be sent Monday to the
senate, where it will be taken up after
the end of the recess on September 21.
Meantime the senate finance commit
tee will hold additional public hear
ings on the whole tax question and
probably revise the measure in
number Of details. AS finally passed
by the house with nearly 100 commit
tee amendments, the bill is estimated
to produce total of s3,347, 100000 rev.
enue this fiscal year, or $221,0OO,OOO
less than the estimate under the ex-
listing law.
AS repeal Of the excess profits tax.
and higher income surtax rates would
not become effective until next Janu-
ary 1, the full force Of the measure
will not be reflected in government re-
ceipts until the calendar year 1923,
but Republican leaders say that
through repeal of the transportation
and other taxes the reduction in the
tax bill in the next calendar year will
be approximately s512,000,000.
Some Changes Made.
The principal changes in present tax
levies made by the bill as passed, in
clude:
Repeal of the excess profits tax.
Increase of the corporation income
tax from 10 to IL IL per cent, effect
i've next January l.
Repeal of the income surtax' rates
from 80 per cent to 65 per cent, inclu-
sive.
Increased exemptions to head of
families, effective as of last January l,
to $500 for incomes not in excess OF
$4,000, and additional exemption for
dependents to $40O from 5000.
Repeal of transportation taxes, ef-
| fective next January /.
Repeal of the war tax on life, fire
and marine insurance policies and i'm
position of the corporation tax of II 1-2
per cent on all such insurance COM
panies except fraternal, effective next
January l.
Repeal Of the taxes on fountain
drinks. ice cream and other beverages
and the substitution of manufacturers
taxes as follows:
Four cents q gallon on cereal bev-
erages; five cents a pound on car
bonic acid gas; two cents gallon on
| fruit Juices or soft drinks; three cents
a gallon on still drinks, exclusive OF
mineral and table water, and ten cents
a gallon on fountain syrups. These
changes would go into force on enact
ment of law.
Repeal of the stamp tax on perfum-
cry. cosmetics, toilet preparations and
proprietary medicines upon enactment
of the bill.
Sports Tax Reduced.
Repeal of the 10 per cent tax on
baseball football and basketball
equipment, skates, toboggans, snow
shoes and skis, reduction of the 10 per
cent tax to per cent tax on tennis,
golf, and polo equipment, games and
the like, the whole to come into force
on enactment of the bill.
Exemption from the income tax OF
the first $500 of income from invest
ments in building and loan associa-
tions, effective at passage of the law.
A reduction from to per cent IN
the levy on candy and Of from 10 to 8
per cent in the levies on fur articles
and art and art works, and repeal Of
the tax on electric fans.
A reduction from 10 to per cent in
the tax on all yachts with motor or
other craft less than 80 feet in length
or of less than five tons carrying ca
pacity exempted from this tax.
Exemptions from the income tax OF
all allowances form the Federal gov
ernment from the service of the bene-
ficiary of another in the military or
naval forces of the United States.
Repeal of all of the socalled luxury
taxes now collected by retailers ard
the substitution of a manufacturers
tax of per cent on the following ar
ticles when sold by the manufacturers
at the sums given:
Carpets and rugs. $3.50 square
yard: trunks, $50 each; valises, trav-
cling bags, suit cases and hat boxes,
st5 each; rrses, pocketbooks, shop
ping and hand bags, 81 each: portable
lighting fixtures SO each; umbrellas
and parasols $3.50 each; fans, 81 each.
and house or smoking coats or jack
cts and bath or lounging robes, So
each.
h - Ma ior George c. Bowen of Green