The Birmingham age-herald., 1921-11-08
BILL ESTIMATED
 ID REDUCE TAXES
 BY 75O MILLIONS
Expected to Yield Three and Quarter Billions for the Fiscal Year Ending
 June 30
Rx Associated Pres.

WaSnlngt0n, November 7.-Ihe much revised tax revision bill final ly was passed by the Senate at 1885 a. m. today after a session lasting more than 15 hours. It still must run the gauntlet of Senate and House conferees before it reaches the President.
 The vote was 3s to "A. three repub- licans-La Toilette, Moses and Norris voting against the bill. and one democrat-Broussar it.
 As now drawn the bill Is estimated by treasury experts to yield approx imately s3.25O,000, 900 for the fiscal year ending next June 30, or s20o.- 100000 less than the existing law. If all of the changes proposed be- come effective, however, the measure ultimdtely will reduce the national tax biVl by approximately s75O, ,OoO, ,OOO a year.
 Senate conferees on the bill were named as follows: Penrose, McCum- btf anu olHOONf DlinflbH5 and Williams, democrats. The bill is to be reported to the House Wednesday and republican leaders on Thursday to send 1t to conference.
 Outstanding Features
 Outstanding features of the tax revision bill as passed by the Senate provide for repeal of the excess prof It's tax and all of the transportation taxes on next January 1, and a re- duction of the surtax rates all salong the line, with the maximum rate reduced from 65 per cent to so per cent.
 Besides these changes, the bm would repeal taxes on;
 Parcel post packages.
 Proprietary medicines. toilet soaps and toilet soap powders, tooth pastes, tooth and mouth washes. toilet pow ders and petroleum jellies (stamp taxes).
 Pianos and other musical instru- ments.
 Umbrellas. parasols. sunshades, pie ture frames ana various articles Of certain amounts. (So-called luxury taxes).
 Insurance premiums.
 Articles made of fur.
 Moving picture films
 Ice cream.
 Chewing gum.
 Sporting goods, including billiard balls and tables. pool tables and dice.
 Admissions where the cost does not exceed 10 cents.
 Pleasure boats and canoes costing less than $100.
 Thermos and thermostatlc bottles and jugs.
 Portable electric fans.
 Bonds of indemnity and surety (stamp taxes).
 Proposed Reductions
 Taxes proposed to be reduced in- clude those on:
 Individual incomes of s5.000 or less through increased exemptions of $500 to heads of families and S219 for each dependent.
 Candy from to 3 per cent.
 Works of art from 10 to , per cent.
 Capital stock issued having a par value of less than s100 share (stamp taxes).
 Cereal beverages from Is per cent of the sale price to 2 cents a gallon.
 Carbonated beverages from 10 per cent of the sale price to cents a gallon plus ] cents a gallon on the syrup used In their manufacture.
 Proposed Increases Taxes proposed to be increased in- clude those on;
 Corporation income from 10 per cent to i5 per cent-/
 Corporations through the repeal of the s2.000 normal exemption on those having d capital stock in excess of s2s.000.
 Estate taxes where the total sum exceede S10 900 900
 Medicinal beer. wine teSSept cham pagne) and whisky.
 Alcohol when diverted unlawfully for beverage purposes from $2.20 a gallon to se.40 a gallon
 Taxes proposed to be changed in form include
 Tax Change Proposals
 Stamp levies on perfumes, essences, toilet waters, extracts. hair oils. etc, to manufacturers levles at per cent.
 Retail taxes on fountain drinks to manufacturers levies of 7i9 cents a gallon on finished fountain syrups for such drinks.
 Retail luxury taxes on carpets. rugs, trunks, valises, travelling bags, suitcases, hat boxes, fitted toilet cases, purses, pocketbooks, shopping and handbags. portable lighting fix lures. including lamps of all kinds and lamp shades and fans costing in excess of certain amounts. to manu- lecturers, taxes of 5 per cent.
 New taxes proposed to be imposed include:
 Levies on gigts of property by any person at rates ranging from l per cent on the amount between s20,00O and $50.000 to 25 per cent on s10.000,- 900 or more.
 Manufacturers tax of per cent on carbonic acid gas to make up part of the revenue lost In repeating the coda Water