Bisbee daily review., 1921-10-09
6, D. P, WANTS
FULL SUPPORT
Of CHANGES IN
TAX MEASURE
Republican and Democratic
Leaders Confer in Endeavor
To Erase Differences
BUSINESS MEN PROTEST
Want Action Immediately to
Lower Burden Carried;
Favor Sales Tax

WASHINGTON, Oct. s. - A move
ment looking to bipartisan support
for the amendments to the tax revi-
sion bill agreed upon by Republican
leaders was put under way today in
the senate Senator Lenroot, Of Wis
consin, leader among the senators
from western states who insisted on
the compromise program, held sever
al conferences with Senator Simmons
of North Carolina, the Democratic
leader in the tax fight, but apparently
a final agreement was not reached.
A plan discussed was to have the
revised amendments reported out by
unanimous vote of the senate finance
committees, Republicans and Demo
Gratis, and supported on the floor by
leaders on both sides. The Demo-
Gratis are reported as looking with
favor on most of the amendments, but
they are not satisfied with regard to
the proposed taxes on corporations,
insisting that revenue in excess OF
that proposed be obtained from that
source.
Republican leaders we're understood
to have agreed today on a plan un-
comes in excess of S25,000 would not
receive the benefit of the $4,000 exemp
tion now allowed all corporations. 1t
is estimated this would yield an ad-
ditional 30,000,000 in revenue. The
Democrats have proposed repeal of
the exemption now allowed all cor
porations.
Senators from eastern states laid
plans today for their fight expected to
force votes on the floor on the origi-
nal proposal for 80 per cent maxi
mum income surtaX rate for the ex-
listing maximum surtax rate. and re-
peal of the capital stock tax on cor
pcrations.
Leaders expressed little concern
over this opposition and were of the
opinion that the amended bill could
be passed by the week after next
The revisions as agreed upon in mid
week were discussed today by majori-
ty members of the finance committee,
but decisions on them were deferred
until Monday.
The income surtax proposal was
taken up in some detail and there
were reports that some olssenting
CplulOuS Idu DceH eApISSScu III tuo
committee.
While the conferences were pro-
ceeding at the capitol, a committee
claiming TO represent more than 100,-
GEO manufacturers over the country,
called on President Harding to pro-
test against the delay in the enact
ment of tax revision legislation and
also against the proposed bill as
whole. John E. Edgerton of Nashville
Tenn, spokesman for the delegation.
declared that the measure passed by
the house and as amended by the SEN
ate committee was Substantially a
perpetuation of the principles and ad-
ministrative policy of the war reve-
nue. act condemned by both parties
and repudiated by the American peo-
pie"
THE situation can be met, in the
opinion of a great percentage of man.
ufacturers," Edgerton added. by ac-
ceptance of the Smoot manufacturers
sales taxp Ian, the only constructive.
remedial proposal"
Before taking up the compromise
amendments today, the finance COM
mittee majority approved more than
40 amendments. some suggested on
the floor Of the senate. One would
exempt from taxation the interest on
money borrowed to carry Liberty and
Victory bonds.