Norwich bulletin., 1921-08-19
liking Changes in
 lax Revision Bill
Amendments Are Under Con- sideration by the Republi- can Committeeman.

Washington, Aug. 1s-Many amend ments to the republican tax bill will be offered on behalf of the majority members of the ways and means committee before the house takes final vote on the meas ure late Saturday. Several changes were agreed puon today by the republican committeeman and upwards of half a committeeman and upwards of half a hundred others will be considered early tomorrow before the bill is taken up in the house for amendment
 One change voted today by the com mittee was elimination of the proposed annual license tax of $10 on vendors of soft drinks. Under another alteration individual taxpayers would pay F 1-2 per cent on profits from the sale of cap ital assets if such profits and the tax payers normal income exceeded S29,000 Under the bill before the house they would be required to pay Is per cent on the excess over S4O,00O
 It also was decided tentatively to ex- empt from taxation the government al lowances received by veterans of the civil and Sapnish-American wars or their benefciaries as well as those received by individuals under the war risk and vo- cational rehabilitation acts
 Other amendments known to be under consideration would exempt manufact- urers of tooth paste and powder from teh tax on toilet preparations and would define as foreign trade corporations busi- ness organizations which derive 30 percent | of their income from sources without the United States. The figure in the bill | is so per cent. This class of income would not be taxable
 There is a movement before the com mittee to propose creation of a special commission to devise some form of plan | by which incomes derived from tax ex- l empt securities can be taxed
 General debate on the tax bill ended | tonight. Principal speakers for the dem- ocrats were Representatives Oldfield, oi Arkansas, and Cochran, of New York and for the republicans Representatives Green, of Iowa, and Longworth, of Ohio members of the ways and means commit tee.
 MT. sCockran attacked not only the bill itself, but the rule under wkich the dem i ocrats claim they will be cut off iron offering any amendments to the bill | Using treasury estimates to support hi: arguments that the tax bill would r., suit in a huge government deficit at th, end of this fiscal year Mir. Cochran de clared that if the treasury went into tt market for S1,000, 900, 900 of money tt help pay ordinary expenses of the gov ernment there would be a panic. Reading official statements by forme | President Wilson, and former democrat ic secretaries Of the treasury urging re peal of the excess profits tax, Represent ative Longworth told the democrats tha in opposing this repeal they were repu diating the democratic platform.
 You are getting your orders by tele graph from Scotland Neck, Mir Long worth saoid, referring to majority lead CT Kitchin's despatch to the democrati caucus, urging solid democratic oppositio to the bill. T think the majority of m party made a mistake in deferring | January l, next. the repeal of the high CT sur-taxes and excess profits tax, bu I acquiesce. These two taxes are tn
 greatest shackles we have on bushes and industry and the greatest burden on both producer and consumer"
 Representative Woodruff repubiicar Michigan, announced that he mould or pose the bill while another republican Representative John Nj Nelson, of Wis consin, spoke against.