The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1921-08-26
Revenue Bill Makers Find Way to
Reduce Taxes by About
Half a Billion.
GOVERNMENT EXPENSES CUT
Income Tax Allowance for DEPEND
ents Doubied-Grain Exchange
Regulation Bill Passed by
Senate-Silesian Question
Referred to League
of Nations.
Nv EDWARD w. PicKARD.

Although 1t has been freely ana
generally predicted that the Repup-
licans would be unable TO carry our
this year their party pledge TO lower
taxes that the revenue bill would
show only revision and not reducuoh
because of the necessarily large eA-
penses Of government, II now appears
they have found way TO fulhll the
promise. President Harding ana the
majority leaders of the house got To-
yether last week and agreed on
program by which government expeh-
ditures will be cut S516,OO0,0o0 This
calls for the raising of S3,015, 100000
from internal taxation, which Is S49o'-
100000 less than the total when the
treasury estimated would be the yieiu
of the present law during the nscai
wear. 1922. The total to be raised
from all sources, but not including
postal receipts. will be S4,o34,Wo'ooo.
According TO the agreement, saving
in the various departmental appro-
priations will amount to S3o.Wo'ooo'
and plan was devised whereby the
nuhlic debt expenditures will be re-
duced S150,o00,oo0.
II was the earnest desire OF the Re
nublican leaders that the imposition
of new taxes be avoided, ana uhoei
the present plan the proposed $40 lax
IN automobiles, the Scent postage
and o-cent stamp on bank checks vii
be unnecessary.
Of more immediate interest, per
hans. TO the average citizen was IN
action of the ways and means com
mittee of the house, which is framini
the revenue bill, concerning the per
sonal income tax. II was voted ina
tbe allowance for each dependen
shall he $500 instead of 500 as a
present. which means a greatly II
creased exemption for the man VII
large family. proposition 10 II
crease the present exemption OF 81
900 for single persons and S2.ooo 10
,o.ds ~ families 10 81 500 and $3.50
respectively was voted down. In
wonld have meant loss OF reNehu
Of nearly fifty million dollars Al
other change adopted was the redu
,ion Of the tax on very large income
There will be no tax above the 81 ~
cent now levied on incomes OF ="
nun-which will be relief to abo'
ten thousand of our weaithiest CT
zens but will not call Tor cheei
from the rest OF US.
The committee also decided on
oomnlete repeal Of taxes on freagf
messenger and Pullman transport
- and increased the fiat corpt
a,ion TAX from 10 per cent TO 10 ?
cent. In this and other respects :
committee disagreed with the reSui
- the conference with the Presidei
ga me changes II has made TO da
,o,rar the Weld from internal tax
g onn zoo 600. OF course all the
things are dependent on further
- nv the committee and acceptan
nv the house and senate.
The losses IN revenue below
s.,. law which will result fr'
- ,,rn~ram as il now stands !nciu
xtzoaan 600 from repeal u the eAe'
cts tax. 100000 600 from the
s,ction in the higher surtaxes' SIS
a,onno from repeal 81 the tax 81
w cent on freight. s1ooooo' fr'
rereal az the tax Of per cent
assenr.r transportation. $3.50
sram me repeal Of the Ter cent
r,,,,,r,an charges. Se5estts' IT
the repeal Of the soda fountain
s1zn,o.en0 from the reI'e@i g
,ax an proprietary medicines, e'.sa
o.. smaller items which br'hs
total up to SSo1.c'o"fa = ;,
Increases made ofset'lus these y