Norwich bulletin., 1921-10-11

some of the committee members opposing them will continue their fight on the floor and will be supported by a number of senators from the eastern states.
 Differences among the republican con- mitteemen were reported to have been on reason for the amendment of a plan, discussed Saturday, to call in the dem ocratic members of the committee with a View to having the amendments reported out by vote of the entire membership.
 After disposing of the compromise pro- gramme the republicans made some fur ther revisions in the bill. The approv- ed amendments, as officially described today, would provide for
 A graduated increaSe from the house income sur-tax maximum of 32 per cent. on S66,000 to a maximum of 50 per cent, on S200,000, effective next January l.
 Repeal of the tax on freight, passeng- CT, Pullman. oil by pipe line, express and parcel post transportation. also ef- fective next January 1.
 A graduated increase in estate rates from the existing maximum of 25 per cent. on S25,00O.o00 to a maximum of 30 per cent. on $1O0,000,00O also effective nex January 1.
 Retention of the corporation capital stock tax of one dollar on each s1,0O0 of capital in, excess of S5, 1000.
 Repeal of the S2,000 exemption allowed corporations except where the net in- come is less than S25 0O0, effective next January 1.
 A fiat rate of S6.40 a gallon on distilled spirits. but with a provision for a rebate l of $420 a gallon when 1t can be shown to the satisfaction of the commissioner l of internal revenue that the spirits are ;y,I -,,T l es
 Repeal of the excise taxes on sporting goods, furs. chewing gum, electric fans tthermoS bottles, smoking and hunting equipment, toilet soaps and powders and perfumes and cosmetics. l Repeal of the } per cent. tax on the licensing or leasing of motion picture i films
 l Retention of the house proposal for a | fiat tax of per cent. on candy, with elemination of the senate committee pro- [ posal for a 10 per cent. tax on candy, l selling at wholesale for more than 40 | cents apound.
 | Retention of the house provision for reduction from 10 per cent. to , per cent in the tax on works of art Elinin- i ation of the senate committee provisions | for taxes on phon ograpic apparatus and l accessories, ho tel rooms in excess of cer- tain prices and office furniture made of | imported harwoods. These were the only new taxes proposed by the senate com 1 mittee.
 Treasury experts working with the committee have not yet completed theil compilation showing the net result ot these changes on the federal revenues but it was roughly estimated that th' total of the senate committee bill would be reduced by more than $125 GOO, 900.
 Repeal of all of the transportation taxes would cut off an estimated s262,
 900, 900 in the next calendar year, whil,
 elimination of the excise taxes agreed upon would mean a further reduction o
 about S5G,000,000 As offsets agains
 these losses there will be estimated gain
 of $50 100000 from income sur-taxes
 $50 900 900 from distilled spirits ant
 $3O 000, 900 by reason of repeal of tn
 s2000 exemption for corporations Re tention of the capital stock tax woul
 add another S75,000.O0
 With the exception of 'he whiskey ta
 and the repeal of the excises on motto picture films and some other articles, tn
 revision as approN eG follows closely tha agreed Ip2r ny 1erubncan leaders.