Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1921-07-30
NEW REVENUE
BILL FRAMED
WITHIN MONTH
Republicans Not Yet
Agreed to Excess
Profits Tax Repeal.
Reduction in Surtax
to 10 Per Cent Max
imum Is Forecast.

washington, July 1o.-F uu-
lie hearings on tax revision
were closed Friday by the
house ways and means COM
mittee which will start draft
ing the new revenue bill after
hearing Secretary Mellon, In
ternal Revenue Commissioner
Blair and other treasury offic-
ials in executive session, be-
ginning Monday.
Chairman Fordney said it probably
would take three weeks to get the bill
before the house. All Republicans have
not yet agreed to the treasury pro-
posal to repeal the excess profits tax
and substitute an increase in the nor
NAL tax on corporations, but leaders
generally believe this program ultl-
mately will prevail. A reduction in
the surtax brackets to maximum OF
at least 40 per cent also is forecast,
/, with probably some other changes in
the present law.
Plead for Movies.
/ n William A. Brady of New York and
4 other spokesmen for the moving pic
ture industry, including theaters, asked
that the theater seat tax, the per
cent sales tax on films and the lO per
cent admission tax be removed. They
declared the industry was in worse
shape than any other in the country,
with 1000 theaters already closed and
many others planning to shut down
next month. Mr.. Brady said the high
salaries of movie stars had disappeared
in the last year.
Preparatory to the consideration of
rates and provisions Of the new tariff
bill, senate finance committee members
appeared to have adopted a new policy
with respect to testimony in the hope,
it was declared, of getting more facts
and less generalities." Several COM
mittee members indicated their inten-
ton to press illnesses for definite
facts and figures upon which to base
the new rates.
Ponder Valuation Section.
Plans for some of the members to
reduce the hearings to statements of
value to the committee became known
after Chairman Penrose announced
that hearings would be suspended after
If American valuation provisions in the
Fordney bill are to be stricken out.
All rates in the bill were completed
on the basis of assessing duties on the
domestic value of imported commodi
ties and Senator Penrose said it was
useless to go further into considera
ton of details until the question of
policy has been decided.
President Harding left Washington
late Friday on the presidential yacht
Mayflower for an absence of more than
a week, most of which will be spent
resting in the White mountains Of
New Hampshire.
Speak at Plymouth.
The first stop will be made Monday
at Plymouth. Mass, where the presi- |
dent is to deliver an address at the
tercentenary of the landing of the Pill |
grims. He expects to arrive Tuesday |
by automobile at Lancaster, N. H., |
where he will be the guest of honor
of war veterans.
Mrs. Harding, apparently completely |
recovered from the slight indsposition |
House for the last few days, accom-
panied the president and will go with |
him to Lancaster. Also in the May !
flower party were Speaker and Mrs.
Gillett; Senator Freinghuysen Of New
Jersey and Mrs. Frelinghuysen; Sena-
tor Hale of Maine; Senator Phipps of |
Colorado and Mrs. Phipps; Secretary
Weeks; Representative Walsh of Mas
sachusetts and Mrs. Walsh; Brigadier
General Sawyer, the presidents ply
sician, and George B. Christian, Jr.,
his secretary.
Will Review Parade.
Making the trip by way of the Cape
Cod canal, the Mayflower is expected
to arrive off Plymouth Monday morn
ing. The president will review a par
ade before delivering his address late
in the afternoon and during the evening
will witness pageant. He will go
aboard the Mayflower again late Mon
day night and reach Portland, Me-, on
Tuesday.
A convey of battleships and destroy
ers will pick up the Mayflower at
Hampton Roads and accompany her
to Plymouth.
ITALY INDORSES ENGLAND
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