Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-10-08
c. 0. P. LEADERS AGREE
ON TAX BILL CHANGES
Senators Would Repeal Lcvics
on Rail and Pullman
Fares.
WILL. NE CONSIDERED TODAY
Propose ELIMINATION "r Revenue from
Hotel -Acc"mm odntions - EXPERTS
FiSnrc Amendments Womb Add
Sli, 0OO.oO0 TO the Pending Measure.
WILL nE coNsIpEnEn TODAY
tBy Associated Press. ]

WASHINGTON. oct. Amend
ments to the pending tax revision
bill agreed 10 rs Republican leaders
in the Senate were made public TODAY
formally in advance of their consid-
Grafton tomorrow by majority mem
bers of the Finance Committee. They
would proviie for:
maximum surtax rate OF 20
per cent on that part OF incomes in
excess OF 100000, in lieu Of the com
mittee plan for - per cent maxi
Uuin on ;hc excess over $50 900.
Repeal OF the express. freight pas-
sengcr and Pullman transportation
taxes. effective at the passage of the
bill.
I'm Increase of s.2O a gallon TO
- a gallon in the tax on distilled
spirits produced. imported or with
drawn from bond for use for indus
'riAi. medical or other purposes
restoration or the capital stock
TAX OF 81 on each $1,000 OF invested
capital
y graduated increase in the estate
tax rates to q maximum OF so ner
cen, on the excess over 100000. 900
in lieu Of the present maximum OF
Rcpcal OF the exercises ON short
goods. chewing gum. perfumes cs.
a"nces. tooth aud mouth washes and
l'nStcs. dentifriccs. toilet powders and
soap and soap powders and other
miscellaneous taxes sufficient to mar
ket up cut OF s37,oo0oo annually.
Elimination of the proposed tax
on hotel accommodations
deduction la .Ia -. "a, .,.., .
per cent with. elimination OF the
committee proposal for n 10 per cent
tax on candy selling ut wholesale
for more than 40 cents n poun1
The other excise provisions OF tn,
Senate bill would stand ,nc,udi,,.
repeal OF the excess protits taS rext
January |. 4 nat tax Of Is pcr con,
on corporation incomes. and in
creased exemptions FOR heads of fam
iies ana ON account o. dependents
VINE repeal III the $4,000 cSrrpn
ZION allowed corporations is NOT I'm
ciudcd In the program as uanoruccd
leaders were cndcavoring tonight "a
WORK out plan which would protoc,
small corporations and at III. sam.
TIN. remove the exemptions fro,,
large corporations
Thc suggestion meeting VIZ, Tho
most FAVOR WAS to allow the exnron-
non IN the case OF corporatiops hoy
ing net incomes less than $4,000 or
$4,000. $500 VI
House leaders today d.c,,r,
AGAINST Increasing the surtnx r,t.
ncFonu the 81 per cent muxiunn,
"Neh TN the bin as vii passed thn
,re. Representative Mondell. or
c, .Tr,.ns' me Republican leader, ami
"a,rnhn Forincy, OF the Ways an
A'e"hS Committee. expressed them.
selves very frankly on this snh{a',,
oc'ore gong into Il conference vyi,l,
Chairman PenroSc, OF the SENATE ~
nihce committee, TO discuss ,te
ch"nses as agreed 10 by the Sennt.
Neither M. rordney nor Mr.. Mon
,,,., NV ea"'hihed the proposed new.
amendments and declined 10 discrss
'heh IN Hotaii. bur Mr.. Mondel Jij
say ne saw no reIspn now for ~
,."hSe TO change its opinion on M.
- per cent corporation income
'aN rate He added. however, thnr
90 those matters would have
!" &c worked out IN conference.
me net change in the cstifnor.,;
revenue as result OF the amend
,ne'''s as proposed was placed bv
treasury experts at an increase ~
|lhuo"'ooO in the S3,324. 900 600 to,,I
OF the pending bill.
me surtax amendment provides
Wholly new schedule hcrlnninl.
"i'h per cent in that par, OF in.
comes between $4,000 and $40. 600. am,
increasing | per cent for each add
'ional 5000 up to ~ per cent IN In
comes between $4,000 and sIon mn
men the rates would be As pcr c.,,,
netwccn 100000 and $50, 600. and
~ per cent between S150.o00 AMI
S2p"'ooo. The committee proposai *
per cent on $4,000 to $1,000 AMI
sr"uuai Increases up to 80 per cent
on $4,000.