The Mena weekly star., 1921-11-10
TAX BILL FACES
 THIRD WRITING
Measure Passed by Senate Now in Conference, Eventually Will Reduce Annual Levy by s75O,000, 0,OOO-
 Many Changes Likely.

Washington, Nov. S.--The tax re- vision bill now faces its third re- writing, this time by the House and Senate conferees.
 The measure finally was passed early today by the Senate, oo to A, at fhe end of a continuous session lasting nearly 16 hours. It will be returned to the House when that body rpconvenes tomorrow and Republican leaders there plan to send it to con- ference Thursday It may reach the president for his approval late Tn the month.
 At rough estimate, treasury ex- perts say the bill in it's. present form would net approximately $3,25O,OOO,- O0O or S2O0 100000 less than the l.present law and about the amount of revenue which treasury ofncers have said the government must have. Eventually the bill, the experts as- sert, would reduce the nations tax toll by about S750,000,000 year.
 Agree on Three Points.
 While they undoubtedly will make many changes in the measure, the conferees are not expected materially 1 to alter the total of revenue. As the bill now stands there are just three major provisions on which the House and Senate agree. They are repeal of the excess profits tax and the ! transportation taxes on next January l, and the retention of the present tax on corporation capital stock.
 The big fight between the Senate and House is expected to develop over the income surtax rate with the general belief at both ends of the capitol that the conference will reach a compromise at a figure around 40 per cent. House Republican leaders believe they can scotch the movement among some Republicans from west ern states to have the House instruct it's managers to accept the Senate maximum rate.
 Accept Few Amendments.
 In the final drive in the Senate last night to pass the bill many amend ments were offered, but few of them were accepted.
 The most important of those ap. i proved was that taxing gifts of prop erty, which is designed to prevent evasion of the surtax by wealthy in dividuals by a distribution of theii property among their relatives.
 Features of Bill. Outstanding features of the tax re vision bill as passed by the Senate provide for repeal of the excess pro fits tax and all of the transportation taxes on next January l and reduc ton of the surtax rates all along th' fine, with the maximum rate reduced from 65 per cent to 50 per cent.
 Besides this change, the bill would lrepeal taxes on:
 Parcel post packages.
 Proprietary medicines, toilet soap and toilet soap powders, tooth pastes tooth and mouth washes, toilet pow Q ders and petroleum jeliies, (staml . taxes); pianos and other musical i'll t struments; umbrellas, parasois, sun shades, picture frames and variou articles of wearing apparel costing Il C i excess of certain amounts (so-calle' Q luxury taxes.
 Insurance premiums; articles mad :, of fur; moving picture films; ic 2 cream; chewing gum; sporting goods : including billiard balls and tables pool tables and dice.
 Admissions where the cost doe not exceed ten cents. D Pleasure boats and canoes costin, less than $100; thermos and thermo 2 static bottles and jugs; portable cleo ' tric fans; bonds of indemnity an, surety (stamp taxes.)
 Taxes to Be Cut. Taxes proposed to be reduced in ' clude those on:
 : Individual incomes of $5n1n Q '. less thru increased exemptions o $500 to heads of families and S20 for each dependant.
 Candy from 5 to per cent.
 Work of art from 10 to per cent
 Capital stock issues having a pa value of less than $100 shar (stamp taxes.)
 Cereal beverages from Is per cen of the sale price to two cents a gal U lon.
 Carbonated beverages from 10 pc 5 cent of the sale price to two cents gallon plus 5 cents a gallon on tn syrup used in the manufacture.
 Taxes proposed to be increased ir I clude
 2 Estates taxes where the total sur exceeds $10,000,000.
 Medicinal beer, wine (except chan : pagne) and whiskey. Alcohol whe diverted unlawfully for beverag purposes from $2.20 gallon to $6.4 a gallon.