New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-10-30
Tax Bill Vote
n the Senate
Put OFF Again
psarose Gives Up Hope for
Passage Early IN Day and
Il Is Indicated There
will Be Protraeted Delay
Holds Up Tariff as Well
r;nance Committee to Take.
Tn Farm Schedules at
Hearing on Tuesday

..... rhe Triaumes washington Bureau
wssHINGTON, Oct. s.-Senator
c..,ose chairman Of the Finance Com
-s..e who has been endeavoring to
.,-.s the tax bill to vote in the
s....s bv the close of this week.
.s.naoned hope of this early in the
.,..;an to-day He announced that it
~.sa be impossible to obtain vote
,..o,. next week. After another day
:. consideration of various amend
mis-. the Senate recessed until Mon
{, x;thont night session. leaving it
.,..rtsin when the bill finally would
!, voted on and passed.
,rs,cations are il will be several
I've and perhaps another week, before
~ Senate passes the measure and
..rss it to conference. Allowing for
s.,sys in conference and for consid-
.,stion Of the conference report after
! IL formulated. there is every indica-
- II will be the middle of November,
:, nerbaps later. before the bill goes
), the President for his signature.
ysorts were made this afternoon to
....h ar agreement on a date for vot-
;ur. They came to nothing.
One effect of delay on the tax bill
sill be still further to hold back the
arT bill. Though it is the purpose
); Senator Penrose to resume tariff
hearings before the Finance Commit
,ss next week, the committee will be
handicapped in trying to conduct tariff
hearings when a number of its members
are tied up in conference on the tax
hin. Senator Penrose predicted a vote
on the tax bill by next Wednesday or
thursday.
Farm Rate Hearing Tuesday
he said hearings before the Finance
Committee on agricultural tariff rates
would be begun Tuesday in accordance
With the program, and after about q
week Of hearings on these rates other
schedules would be taken up. He said
he had been assured the experts of the
Treasury, who are studying values,
we're ready to report when their in
formation was desired by the Finance
Committee.
The President and Administration
leaders in the Senate are disappointed
ever the slow progress on the tax bill.
It has encountered fight at every
foot of the way IN its progress through
the Senate. Some of the more pessi-
mistic Senators to-day foresaw visions
Of the measure being in conference for
three OF four weeks and thus being
thrust over TO the regular session, but
this does not appear probable.
Senator Reed, after debate to-day.
obtained the acceptance of an impor-
tsnt amendment which will serve to
throw the returns of corporations or
individuals under the tax laws to the
Treasury Department open to the in
spection of Congress. Senator Reed
protested that the committee provision
as reported would enable the President
aud Secretary of the Treasury to keep
returns under cover aud withheld them
from Congress, despite the fact this
provision said they were public records.
Under the amendment the returns
would be subject to the order of either
souse OF Congress, as we'll as to the
Executive regulations prescribed in the
fiaance Committee. Senator Reed said
was highly important Congress and
It's committees should have access to
ne returns in fixing tariff rates and
l0r other purposes. Whether the Reed
amendment will survive conference is
uncertain.
Wine Tax MAZDA Clear
senator Hefin secured a reconsider
won OF the Wadsworth amendment for
axes on beer, wines and spirits used
asaleinally and had the wording
saanged so as TO make it clear that
asuleines themselves made in part out
vine should not be taxed under the
sfnendment.
"A. Az amendment by Senator Lodge in
saoed to exempt holding companies
rom tax ON capital stock to the extent
ae.I subsidiaries pay tax on their
saapitai stock caused sharp discussion.
wing to the fact Senaor Lodge was
mulsposed, the matter was finally put
over until Monday.
senator Calder introduced an amend
ns's 70 exempt from the Is per cent
sslpofation income tax corporations
s.sahlzed exclusively for cooperative
. ssMe ownership and which require
s ~ss an occupants of any part of the
-. owned shall be pro rata own
&c o. the entire issue of shares"
senator Harris, c. Georgia, intro