Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-09-28
SUPPORTERS AMI
ENEMIES Of TAl
BILL READY Fda
BITTER CLASHES
More Important Provisions of
the Measure Reported By
Senate Finance Committee
VIII Be Attacked,
DEM M0CRATS TO OFFER
RADICAL AMENDMENTS
Objections to Specific Sec
tionS Also Come From Re-
pubIiCanS; Class DiScrin1-
nations Are Charged,
tBy The Associated Press.)

Washington, Sept. 27.--Tax re-
vision legislation was put under
way today in the senate with in
dications of bitter fight to come
over the more important provis-
ions of the measure reported by
the finance committee.
Notice was given by Senator
Simmons, North Carolina. ranking
minority member of the commit
tee, that sweeping and radical
amendments" would be offered by
the democrats and he added that
il the sponsor for the manufacture
ers' sale tax would accept these
amendments, serious consideration
would be given such sale tax as
part OF the democratic scheme.
provided such levy should prove
necessary to raise the needed rev.
enue.
Both Sides Object
Objections to specific sections
came from the republicans, as well
as the democratic side and Senator
Lenroot, OF Wisconsin, republican,
proposed amendments to the in
come surta.s provision under which
existing rates would be continued
up to so per cent on incomes eX-
ceeding 100000, with an alternate
proposal OF a so per cent levy on
incomes of from 100000 to $780,
900, and a 60 per cent rate on
those above 100000.
BY taking the bill up under an
agreement to accept uncontested
committee amendments to the or
iginal house measure, the senate
made progress on proposed
changes to some administrative
features. None of the levy provi-
sions was passed upon, however,
objection being made.
Democratic Amendments
Amendments to be offered by
the democrats, Senator Simmons
said would be designed to pro
duce something like uniformity of
taxation between the defendant
classes and groups of tax payers,
and will remedy some Of the class
Determinations VIII C h reek
throughout the BILL"
There was some discussion today
Of a tax on the undivided profits
of corporations so as to avoid pay
ment of revenue to the gov
ment. Senator Smoot. republ
Utah, said he hoped no g
would be made to pass law W hH
would force corporations to
tribute their profits as dividend =
this would tend to prevent p
from laying by sufficient SUI lAg
to meet a slump.
Senators Simmons and pt.
democrat, Utah, said there ai4
be no disposition to enact su
law, but that some means sh VIA
be found to prevent corpora ona
from evading the payment or .a%
es Senator Smoot said he die n
think there would be many n~
Germs which would make enc .-eA
in the next several years to have
any considerable surplus left az
ter paying regular dividends,
Provisions Passed Over
Important provisions of the bill
passed over today for future con-
sideration included those reducing
the surtax rates to SO per cent;
increasing the income tax on cor
porations from ten to Is per cent;
taxing life insurance companies;
granting additional exemptions to
heads of families having incomes
of $4,000 or less arid on account
Of dependents; defining foreign
trade corporations; exempting
from the corporation tax labor, ag-
ricultural or horticultural organic
cations, mutual savings banks not
having a capita1 stock represented
by shares, domestic building loan
associations substantially all the
business of which is confined to
making loans to members" and
the section striking out the house
proposal making the salaries OF
lCnntinInd on Paga TWnA -