New-York tribune., 1922-09-29
Congress Faces
Il ask Of Adding, Q,
To Tax Burdens
Prospect of 800, 600, ,O0O
Deficit Causes Lenders
TO Consider Legislation
for Increased Revenue
May Occupy Short Session
Fordney's Successor Urges
Enlarged Estate Duties;
Other Means Proposed
Fron rhe rrib,me's Washington Bureau

From The Trib,me's Washington Bureau
WASHINGTON, Sept. 2S. Raising of
more money through taxes will in all
probability have to be undertaken by
Congress- at the coming short session
Unwelcome as this task Ia. Congress
will be faced with the cold prospect
Of 100000 deficit for the current
fiscal year. The expectation Of such
deficit was one OF the reasons why
President Harding did not sign the
bonus bill.
House Ways and Means Committee
leaders already are giving thought to
the question of what is to be done to
meet the deficit The impression Is
strong among them that the only prac-
tical way to do it is through the lay
ing of more taxes. While there will
be some support for floating more
bonds or certificates af indebtedness,
there will also be much opposition to
it on the ground that it will tend to
initiation and will weaken existing gov
ernment securities and cripple the mar
ket for industrials.
Representative w. r. Green, who
will be the new chairman of the House
Ways and Means Committee after
Representative Fordncy retires next
March, expressed the view to- day that
legislation to increase the income from
taxation will be necessary.
Judge Green, who is on record in ia
vor OF increasing the inheritance taxes,
said to-day he believed that the addi-
tional revenue should be met either
wholly or in large part by larger cs-
tate taxes. He holds that such taxes
will be the least burdcnsome which
Congress could impose. He recognizes
there will be opposition to enlarged
inheritance taxes, hut he points out
there will be opposition to any form
of increased taxation.
The advocates of the sales tax are
expected once more to make a strong
effort to get such tnX imposed. They
have omitted no opportunities to urge
1T IN Congress. Up to this time, how
ever it has been impossible to get
either House to support the sales tax,
and it is not probable it will be adopted
i'll the future.
Excess Profits Tax Will Be Urged
1t is expected that miscellaneous ex-
cises of one kind and another will be
proposed. The revival of the excess
profits tax has numerous advocates in
both houses, but there is little reason
to believe that they can command a ma
jority in either body of Congress.
Inc queStlon OF now to OBTAIN more
revenue easily may become the fore
most subject of the snort session. it
is obvious that if it has to be taken
up it will consume much time and that
it will seriously interfere with consid-
Grafton both of the ship subsidy bill
and Of railroad labor problems.
So far as the tariff is concerned, this
subject will not come up again in
Congress the coming winter in any
form so far as now foreseen, except
with reference to an enlarged appro-
priation for the Tariff Commission,
although the new tariff act is looked
on only as temporary measure. In
ways and means circles there is all
ready talk that the law will have to
be rewritten in two or three years in
order TO meet the shifting conditions
of the worlds industry and trade.