New-York tribune., 1921-11-24
Approves Revenue Bill
After the Senate Accepts
Conference Report by
a Vote of 80 to %
Expected to Raise
Over 3 Billions
Six Republicans Join Op-
position; Calder Asks
Inquiry by Commission

FROM The Tribune's Washington Bureau
WASHINGTON, Nov. 23.-By vote
OF SO to 20 the tax bill conference re-
port was passed by the Senate this
afternoon. Passage of the bill by Con-
gress was completed by this action and
1T was later signed by President Har-
ding, thus becoming law. The Pres
ident visited the Capitol at a o'clock to
sign this and other measures.
Except as otherwise specifically pro-
vided, the bill becomes effective at
once. Repeal Of the excess profits tax
is effective January i, 1922.
Six Republicans - Senator's Borah,
Ladd, La Toilette, Moses, Norbeck and
Norris-voted against the bill. One
Democrat, Senator Broussand. of Louis
lana, supported it. Otherwise party
lines were followed. A number Of
Senators were absent and not paired
when the roll was called
Though the Senate had agreed to
vote not later than 5 p. m, the roll
was called at 3 o'clock. Desire Of SEN
ators to end the session and to take
evening trains for their homes hast
ened the vote.
Raises 3 Billions, Says Penrose
The bill as agreed to will raise $3,-
216,O00,0OO for the current fiscal year,
according to Senator Penrose, and will
meet the fiscal needs of the govern
ment. This is disputed by critics of
the bill, who say it will produce a
deficit.
Much criticism was heaped on the
bill in the debate to-day. The Senate
met at 10 o'clock and, after taking con-
on the discussion. For more than four
hours there was speech making, with
much criticism and little defense of
the bill. Senator's Hitchcock, Simmons,
Walsh, of Massachusetts,, and Jones, of
New Mexico, Democrats, were the chief
speakers in opposition to the confer
ence report. Senator Smoot, though
opposing many features of the bill,
nevertheless upheld the conference re-
and unfortunate for the country to
defeat it.
Senator Calder. in a speech, con-
demned the bill as a "disappointme MT
to the people of this country" While
he vot.d for it, as did Senator Wads-
worth, he at once introduced a bill for
a tax investigation commission to make
a comprehensive investigation into tax
problems.
Assailed by Democrats
Senator Hitchcock charged that SEN
ator Penrose, chairman of the Finance
Committee, had attempted "chiefiy to
relieve from taxation the very high
profits of the most prosperous corpora
tions." He further charged that the
policy of the bill was to take taxes off
great corporations and great individual
wealth and "unload it on the masses Of
the people"
Senator Walsh, of Massachusetts,
condemned changes made in the bill in
secret meetings of the conferees.
Gwen more than revolutions, such a
system is an invitation to Bolshevism,'' -
said Senator Walsh. He declared the
conferees had deliberately thrown over
put in by the efforts of the agricultural
"bloc" and the Democrats.
Senator Smoot said the bill contained
rates which were discriminatory and
could not be defended. He asserted the
SO per cent surtaxes would "drive the
men with great fortunes into the pur-
chase of tax-frce securities, just the
same as the 65 per cent rate"
Defeat Would Iniure Business
Senator Smoot told the Senate that
he had telegraphed business men in
New York, Chicago and Boston to ascer-
tain what, in their opinion, would be
the effect of defeating the pending bill.
Five out of six had taken the view it
would be indefensibe to defeat the con-
ference report and leave business sus-
pended in the air, uncertain of what
was coming in the way Of tax legisla-
tion. He made it clear he would vote
for the conference report not because
he liked the bill, but because he be-
lieved it better than the present law
and because he felt that the uncer-
talnty that would follow defeat of the
measure would be hurtful and burden
some.
Senator Calder's bill is one to create
fronfinusd nm mana ain