The Birmingham age-herald., 1921-11-01
SENATE SPEEDING
 UP ON BILL FOR
 REVISING TAXES
Vote to Retain $75,00o,0 ,000 Corporation Taxes. Repeal of Which Had Been
 Proposed
By Associated Press


 Washington, october s1.-After spending the day discussing the sol diers bonus, the Senate tonight pro- eeeded with the tax revision bill with unusual celerity, voting to retain s75,OOo.0Oo of taxes on corporations which had been proposed for repeal and looping off number of excise leNies now fin force.
 The first important action was the adoption Of an amendment proposing a, graduated corporation capital stock tax rates of q on each $i,ooo of stock between 5000 and ss.00o, 900, and f2 per s1.000 on an over s3000.- 600. Holding companies in paying this tax would be credited with the amount of the same tax paid their subsidiaries.
 Reconsidering it's former action approving the present per cent tax on pianos and other musical instru- ments, the Senate. without q roll call and little opposition, adopted fn amendment by Senator FrelinRhuy- sen. republican. New Jersey, repeal ing this tax.
 The section proposing per cent levy on sporting goods was next eliminated A compromise amend ment striking out this section was adopted, S1 to S0
 The Senate got stuck for time on the chewing gum section, but it finally voted, 35 to 24, to repeal this tax, the existing rate of which is 3 per cent.
 The Senate rejected an amendment by Senator Wadsworth. republican. New York, to repeal the 10 per cent tax on cameras weighing less than loo pounds and on lens for such cameras. It then rejected motion by the same senator to reduce the tax from 10 to 5 per cent.
 Recess at IIi2O F. M.
 At 11:2O D. m, the Senate recessed until II a. m. tomorrow
 There was a four hours discussion today of the Reed amendment pro- posing to continue the excess profits tax and to use the proceeds to derray the costs Of the five way adjusted compensation plan. This was fol- lowed by the introduction of an smendnent by Senators Simmons of North Carolina and Welsh of Massa- ehusetts, democratic members of the finance committee, proposing pay ment of the bonus cut of the interest on the nations foreign debt
 The latter amendment will not be formally moved for adoption in the Senate, It's authors announced, until action has been taken on the Reed amendment. Meantime Senator Reed is delaying formal presentation o. his amendment until there has been full discussion of the whole question,
 Next step Unaecided
 Senator Penrose. Pennsylvania. in charge of the sax b.ll. said toc&Y it vas tlle plan of the majority to move to lay the Reed proposal on the table on the ground that the soldiers bonus has no place in tax measure. Ma jority leaders had not decided tonight, however, what would be done with respect to the Simmons Walsh amend ment, which the authors declared would make the issue clearly one of bonus or no bonus without raising the question of the condition of the public treasury, which has been the chief argument presented by oppo- nents of the bonus plan"
 Senator New, republican, Indiana, opened the bonus discussion today with the declaration that in his judg- ment the Reed amendment would be in conflict with the constitution in that it proposed to tax one class of citizens for the benefit of another.
 This contention was denied by Sem ator Reed. who spoke at length Tn support of his amendments. He was followed by Senators Heflin of Ala bama, Stanley of Kentucky and Wat son of Georgia, democrats. There was no reply from the republicans
 Attacks Mellon
 Senator Reed declared a vote to table his amendment would be d so r-,ff Ia grs, t,. Mellon for recommending delay in acting on the bonus measure. Senator Reed declared the treasury head was connected with many oppressive and powerful financial and industrial in- stltutions.
 The Senate was told by Senator Stanley that despite an overwhelming sentiment In Congress for the bonus bill, President Harding had put his foot on the measure and ordered the republican congressional leaders to abandon it. He added that with sen ator Penrcse acting as undertaken and the other republicans as pail bearers the bonus bill was dead"
 Getting back to the tax bill, the Senate adopted finance committee amendment which would exempt from taxation American corporations and citizens in the PhllippiheS ana iorio Rico unless their income was sent to stockholders In the United States. II was explained that this would place Americans Tn those islands on the same footing as traders of another country. Before the Senate voted on the amendment the finance commit tee withdrew It's proposal to exempt from taxation incomes derived from China by American corporations and citizens. 50 per cent of whose business was done in that republic. Senator Snoot of Utah said 1t had been de- cided tn lei this situation be taken