The Birmingham age-herald., 1921-10-30
PRESSURE BEHIND
 TAX REVISION IS
 EASEDIN SENATE
Little Progress Is Made on Measure and Day of Final Vote Remains
 Indefinite
By Associated Press

Washington, october 29.--Pre behind the tax revision bill eased off perceptibly today In the Senate after it had become apparent that there was small prospect of final vote by the middle of next week Little pro gress was made today on the meas ure and there was no effort to force a night session,
 Negotiations between the majority and the minority looking to an agree ment for day for a final vote fell through. Later democratic leaders estimated that the bill might be passed by next Wednesday or Thurs day. Some senators on the majority side drought the vote would come by Tuesday, while there were other estimates that it might be delayed until next Saturday.
 We have now broken tho back of the movement to force this bill through without proper considera- ton" said Senator Simmons of North Carolina, ranking democrat on the finance committee.
 Members on both sides apparently have come to the conclusion, as a result of criticisms, that the bill should be given most careful scrutiny and considerations"
 Handle Two Amendments
 Only two amendments to the bill were disposed of during the six hours the Senate 7wAs in session ta- day Under one change adopted on motion of Senator Reed. Missouri. in- come tax returns of both corporations and individuals would be open to in- Nv tra nf af a of Congress- Under the existing law these existing returns are opened for inspection only upon orders of the President
 Explaining the proposal, Senator Reed said this information should be at the disposal of Congress as much of it would be necessary in writing tax and tariff laws. He pointed out that representatives of interests ap- bearing recently before tho finance committee asking for high tariffs had refused to give information as to their profits or salaries
 Reed Launches Fight
 Before the Senate recessed until Monday. Senator Reed also launched his fight for the soldiers bonus, which he has proposed shall be paid out of funds obtained by continuing the excess profits tax. In Q viz orous speech he declared that his amendment was designed "to pay tho bonus from the profits of the war profteers"
 'T am only taking the funds" he said. turning to the republicans, that you propose to throw away and leave in the hands of the profiteers. You can put this money in the hands of the soldiers and not adversely affect the fiscal policy of the government. That answers all argument raised against the bonus by the Presidents letter."
 Reading the message of President Harding and the letter of Secretary Mellon opposing the bonus at the present time. Senator Reed charged that it was the republican plan to "l4ill' the bonus bill.
 Clearly, Secretary Mellon had c hand in this" said Senator Reed, cit ing that MT Melons first statement against the bonus preceded the Presidents by six days.
 The republicans, Senator Reed con- tinued. proposed Ito leave millions in the pockets of the ultra -ich," and refuse to compensate the former serv- ice men.
 Three Hour Fight
 Nearly three hours of the Senate session was consumed In fight against an amendment offered. by Senator Shoot, republican, Utah, pro- posing exemption from taxation the income derived from business done in China by American corporations, 80 per cent of whose gross income comes from that country and 50 per cent of whose business Is done there. Democrats and republicans alike opposed the provision, asserting that there was no good reason to make such an exemption and that this would be an entering wedge for sim liar exemptions to all American cor poratlons engaged in business abroad. Senators Smoot and Brandegee. re- publican, Connecticut, urged the pro- posal on the ground that an exemp- tion was necessary if American firms were to compete for trade in China with British, German and other for eign companies. ,t.,-
 Finally Passed Over
 The amendment finally was passed over as was that proposing retention of the capital stock tax which the finance committee proposed to repeal on next January 1. Senator Lodge of Massachusetts the republican leader, has offered an amendment to this sec ton, and because of his slight indis- position republicans asked that the matter go over until Monday.
 A number of amendments to the tax bill were offered today. Senator Edge. republican, New Jersey, formal lily presented his amendment to con- tinue the present 10 per cent income tax rate on corporations. and Senator l LaFollette, republican. Wisconsin. l offered an entirely new schedule of estate tax rates. beginning at per cent on all that part of an estate 1 over s50.oo0 and graduating up to 30 per cent on all over s30.oo0.00o. l A tax of 1000 per cent on political | campaign contributions over sloo.