Arizona republican., 1922-06-09
Bonus Bill Formally
Presented In Senate
(Continued from Page Ona)

the time had come TO show pluck
! and grit, courage and sand. =
Senator McCumber explained he
was estopped from offering any such
| motion by the "gent1emens agree
ment" that no controversial legisla-
! tion would be called up without ad-
vance notice being given to senators.
/ Senator Robinson, democrat, Ar
| kansas, said he wanted it understood
| that Senator Williams action did not
represent the sentiment on the dem
ocratic side of the chamber.
| Informal canyasSeS of each side
have indicated that the bonus legis-
lation has a substantial majority in
| the senate but whether the amended
house bill will be passed, is prob
lematical. In any event, a long fight
on the measure is expected and for
| that reason some at least of the re-
| publican leaders are opposed to call
| ing 1t up until after the tariff bill
has been gotten out of the way.
! bill to the senate, Chairman Nc
| Cumber made public both its text
and the report from the finance COM
| mittee. The report estimated that
the total cost of the legislation would
be $3,845, 5,659,4S1, spread over period
of 43 years from next January /,
when the legislation would become
operative. This total is $250.000, 900
less than the estimate under the
house bill.
The soldier bonus bill was for
mally presented in the senate by
Chairman McCumber of the finance
committee. with an accompanying
report placing the probable cost to
/ tho fada,-a1 OF 60 QAS-
659,4S1, spread over a period of 43
years from next January / This is
approximately s250,000,000 less than
the estimate under the house bill,
which was s4,09S. S.719,350, payable over
20 years.
Prepared by Treasury
The senate bill estimate was pre-
pared by treasury experts and is
based on the theory that 70 per cent
of the 4,45S,199 veterans who would
be eligible for compensation would
elect the adjusted service certificate
option: 22A per cent farm. home and
land settlement aid, and 212 per cent
vocational training aid. Should all
of the veterans select the certificate
plan the total cost would be $4,4S6,
545,97S.
With reference to financing the
legislation, Chairman McCumber's
report said it was hoped that the re-
duction in governmental expendi
lures plus the payment of interest on
the refunded foreign obligations
would be sufficient to obyiate the inn
position of additional taxation.
IF it does become necessary to i'm
pose additional taxes" the report
continued, 1T is believed we can
better determine the amount of the
necessary levy and the methods of
distributing such burdens for the
future at a later date when the
future condition of the treasury will
be more accurately established
Senator McCumber explained that
an attempt had been made to reduce
to minimum actual cash payments
under the bill during the next three
years while the treasury is engaged
in refunding the nearly seven billions
of dollars of maturing government
obligations. The estimated cost of
the bonus for those three years was
S242. 100000.
After its presentation to the sem
ate the bonus bill went to the cal
endar where it will remain until
there is an agreement to call it up.
Senator McCumber and some other
proponents desire early action but
several Republican leaders are OPP
posed to sidetracking the tariff bill
as they expect the fight over the
bonus to consume at least month
and perhaps six weeks.
This measure differs somewhat
from the house bill and very widely
from the bonus bill that was reported
to the senate last year and later sent
back to the finance committee at the
request OF President Harding.
Eliminate Cash Bonus
The most important change from
the original measure is the elimina-
tion of the cash bonus and reclama-
ton features
AS now drafted the legislation
would give each veteran the right to
select any one of the following plans:
Adjusted service pay, but only if
his ad justed service credit did not
exceed $50.
Adjusted service certificate with
bank and government loan provi-
sions
Vocational training aid.
Farm and home aid
Land settlement aid
The estimated cost for each of
these plans is s16,000,000 for the cash
payments 1886 4.909,4S1 for the ad-
jested service certificates: $412, ,425,-
600 for farm, home and land settle
men. aid and S52.325,000 for voca-
tional training. The expense under
vocational training and the cash |
bonus would end in 1925. under this
estimate and those for farm. home /