The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1921-09-30
MANY AMENDMENTS
TO TAX REVISION
Efforts Made to Bring About an
Agreement Among Oppo-
nents Committee Bill
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icy Tue associated RFeSos1
WASHINGTON, Sept. 29-Senate
consideration OF the republican tax
revision bill was featured today by
the introduction Of sweeping amend
ments from the democratic side a row
between Chairman Penrose, Of the
finance committee, and Senator Sim
mons, of North Carolina, ranking
democrat on that committee, and a
charge by Senator LaFollette, repub-
lican, of Wisconsin, that features of
the bin dealing with foreign traders
and foreign trade corporations consti-
tuted device to enable individuals
of great wealth to escape taxation"
Behind the scenes there were some
efforts to bring about an agreement
among opponents Of the committee
bin of the more outstanding tax
features, but apparently there were
no final conclusions. Republican sena-
tors In the agricultural bloc" were
confident, however, that with the aid
of the democrats they would be able
to defeat the committee plan to con-
tinue the taxes on freight. passenger
and Pullman accommodations for an
other year at half the present rates.
Repeal OF these levies was one of
several proposals put forth by Sena-
tor Simmons on behalf of the minor
ity members of the finance committee.
The others included a maximum sur
tax of 50 per cent in place Of the pro-
posed 80 per cent; retention of the
corporation capital stock, which the
committee would repeal next year; re-
peal Of the $4,000 exemption allowed
corporations and of the special taxes
on brokers and proprietors of theatres
and other places of amusement and on
owners Of automobiles operated for
hire. Another amendment would pro-
vide that persons having net incomes
in excess of $4,000 would be eligible
for the normal exemptions now al
lowed by law to single men, married
men and to heads Of families on ac-
count of dependents.
Under the Simmons amendment to
the surtax provision. the rates fixed
by the committee UP to 81 per cent
would stand but above that the levies
would be so per cent on incomes from
$4,000 to $4,000.
In a statement explaining the
amendments, Senator Simmons said
repeal OF the transportation taxes
would cause a net loss of $131, 100000
a year but that the government would
get $75,000,000 from the capital stock
tax; $55, 5000 600 from repeal OF the
$4,000 exemption allowed corporations
and $26,O00,o0o through elimination Of
the normal exemptions where individ-
ual incomes exceed $4,000.
A motion by Chairman Penrose that
the senate meet an hour earlier than
usual to resume consideration of the
tax bill led to the incident with Sena-
tor Simmons. The latter who had
been absent from the chamber for a
short time asked that the motion be
amended so that the senate would
meet at noon, as usual.
why I thought the senator had
gone home" observed Senator Pen
rose.
The North Carolina senator, in an
impassioned speech, charged in reply
that there was a most unseemly
drive" to rush the tax bill through
and warned that If these tactics are
pursued this measure will not pass
until the snow fies"
Senator Simmons declared that the
senate was being asked to sit from
II a. m. to p. M: and then to hold
night sessions from 8 to II.
"Why?" he demanded
because leaders on that (the re-
publican) side find that the special
session Of the congress is about to
expire and nothing has been accom-
plished. No time is allowed for in
lvestigation Of the important matters
in this bill.
There have been hve months in
which to pass this measure and now
suddenly there is a great rush to get
/ it through. You are trying to blame
your short -comings on this side of the
chamber. We are not going to submit
to it without fight. The senator
talks about delaysi That talk comes
from the archcriminal of delays"
Senator Penrose replied that he was
sorry If he had said anything to of
fend the senator and that he would
amend his motion so that the senate
would recess until noon.
'T hope that will not be too early
for the senator" he added.
Practically the whole session today
was taken up with discussion OF the
sections of the bin defining foreign
traders and foreign trade corporations
as those individuals or firms eighty
per cent Of whose gross income Is de-
rived from sources outside Of the
United States and fifty per cent of
whose business is done outside of the
United States. Several democratic
senators Joined Senator LaFolIette in
opposing it ard action was deferred.
/ Death from sleeplessness, due to