Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-08-14
3-BILLl0N- DOLLAR
TAX BILL IS READY
FOR HOUSE ACTION

brackets ABOVE - per cent, effective
January 1. 1921.
Repeal or all forms OF transporta
ton taxes. effective January l, 1922
An increase from $4,000 to s2,5OC
In the exemption to married men
having an annual net income OF 3d.
900 or less. effective January /. 1921
An increase in the exemption 10
heads of families on account OF de-
rendents To 800. for each dependent
instead of 5000 as at present, eff.
fcctivc January /. 1921
Exemption from tax of the hrs,
$500 of income received by individ:
"ais from investments in building
and loan associations, effective Jan.
nary. l. 1921.
Repeal OF the tax on fountain
drinks and ice cream and substitu
ton of a fiat tax OF 10 cents a gallon
ON all fountain Sirups TO be paid di-
rect by the manufacturer or maker,
effective upon enactment of the bill.
Repeal "f the stamp taxes on per-
fumes. extracts. tooth paste and other
toilet preparations and proprietary
medicines and the substitution OF n
manufacturers tax of per cent on
the sale prices. effective on the en-
actmcnt OF the bill.
Substitution OF n manufacturers
tax OF cents gallon for the present
10 per cent on the sale price OF un-
fcrmcntcd juice beverages. and car
donated waters or beverages or other
soft drinks sold in containers, effec-
tive on the enactment of the bill.
Reduction in the manufacturers
the manufacturers taxes OH furs
from 10 to per cent, and OH sport
ing goods from 10 to 3 per cent. and
the levy on art and art works from
10 to per cent. effective on the en-
actment of the bill.
Imposition OF manufacturers tax
of cents a gallon on certain classes
OF grape juice and cents gallon
on other classes. in lieu OF the present
turers' selling prices. effective on en-
actmcnt, of the hill.
The levying OF 5 cents n pound on
carbonic acid gas sold to manufac-
turers OF carbonatcd gases, effective
on enactment of the bill.
Change In Administrative Features
Numerous changes also were made
in the administrative features OF the
present law on recommendation OF
treasury experts. These included in
sertion OF provision authorizing the
Secretary OF the Treasury TO settle
disputes over back taxes without re-
sort TO the courts. In effect there
would be set up tribunal TO pass
on such claims and the time for their
settlement would be reduced from
five 10 three years. except that the
Secretary %. the Treasury could cx-
tend the time within his discretion.
Treasury experts and members of
the committee believe that this pro-
vision Will greatly simplify the task
Of collecting the taxes now in dis
putc estimated TO total approximate
ly 81 $500, 100000
Another change in the administra-
tive features would give the Score
tary authority TO call in representa-
tives OF the taxpayers in framing new
tax return forms in an effort to sim
pisiN
Rejects Treasury Suggestions.
In passing finally upon the various
changes in lcvics the majority MEM
bcrs OF the cummittec rejected all Of
the Treasury suggestions for new
taxes and also the proposal that the
income surtax rates be reduced TO %
per cent, effective next January l.
The Republican committeeman also
went further in revising levics than
was suggested at tho White House
conference.
The bill as drawn will he subject TO
change by the Republican conference
" hich is TO decide upon n rule Monday
Tor its consideration by the House.
but members OF the committee do NOT
anticipate any material alterations.
The measure will be considered by
the fun Ways and Means. Committee,
that is. with the Democrats present
on Tuesday, and put in final shape
for House consideration. which will
begin on Wednesday, probably at IL
4. NJ.