Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-07-30
COMMITTEE ENDS PUBLIC
HEARING ON REVENUE BILL
VIII Have Treasury Officials Before
Bod, in Executive Session
Next Week.
INy Ass.c.u;ch rross |

i''s -''7''N IA At''l t'TESS.i
WASHINGTON. July %. puhli..
hearings OH taN revision were closed
today by the House Ways ana Means
Committee. which Will start drafting
me new revenue bill after hearing
Secretary Mellon. Internal Rcvenuc
commissioner Blair and other treas
ury officials. in executive session. he
ginning Monday
Chairman Fordncy said it probably
would take three weeks To get the hiiI
before the House The maiorii :.
members OF the committee have az
yet had no conferences to agree upon
IA revision program. and evidence of
II difference OF opinion among them
on certain changes proposed has not
been lacking
All OF the republicans have not yo;
agreed 20 the treasury proposaI 10
r'HcaI the excess profits tax and sub :
stitutc an increase in the normal ,,x
on corporations. but leaders generally
believe this program ultimately viii
prevail. y reduction In the surtay
brackets TO maximum Of at least
40 per cent also is forecast. with
probably some other changes in tho
present law. Like the great majority
"i those who had gone before, most
witnesses before the committee to-
day sought removal of the tax from
their particular industries. but as
Chairman Fordncy repeatedly pointed
out the committee got few suggcs-
tions rs To how the loss in revenue
proposed was to. he made up.
william y, Brady, OF New York anil
"thcr spokesman for the moving pic
turc industry, including thcaters.
asked that the thcatcr seat tax. tho
r,,r M .l.s.
10 per cent admission be removed
They declared tn. industry was in
worse shape than any other in the
country. with 1000 theatcrs already
closed ana many others planning 10
shut down next month. Mr. Brady
said the high salaries Of movie stars
had disappeared in the last year
James y. Emery, of this city NJ,
behalf Of the National AIanufocti,rer.,
Association. urged repeal of the nv
cess profits tax and the higher
bracket in surtaN. sugmitting a gem
cral turnover or sales tax. whila
representatives OF the fur Industry
asked repeal or modification of the
TAX on their products.
Representative Aprleby. Republi-
can. New Jersey, argued in favor OF
his bills 10 impose Il two-ccnt stamD
tdN on bank checks, to rcpcal the
soda water tax and TO levy Federal
tax of 40 cents per horsepower on
passenger automobiles and $40 a ton
on trucks. with a proportion or this
To so to the states in lieu OF the
nprcscnt State taxes. He also asked
for n simplitication of the income tax
sheets
Robert Ilomans. a Boston lawyer.
representing corporations >and asso-
Citations holding and developing real
estate, argued against any increase
in the normal tax on these corpora
tions. He said none of them now
paid excess profits taxes and'that any
increase in their taxes would be
practically unbearablc.
Opposing repeal OF the excess
profits tax and the higher groups OF
surtax, Charles y. Lyman. Secretary
OF the National Board of Farm Or
ganizations. said there was feeling
on the part OF the farmers that some
plan should be worked out under
which the vast accumulations of
wealth should bear Il large part OF
the tax burden.