Evening star., 1924-05-26

public and making public the amount
paid by each taxpayer.
Representative Howard, Democrat
Nebraska, replied that publication of
tax returns was Gel tain to result in
a great increase in payments.
Representative Frear, Wisconsin, in
charge of the Republican insurgent tax
fight. said the bill was the most
scientific revenue measure ever ap-
proved by Congress-
THE country was sold the Mellon
plan-a gold BRICK he added, but you
have been too wise to buy it."
mands for certain tax relief and no
bonus" Mr.. Frear declared that I'VE
have shown Congress can run itself"
He recalled former estimates that the
bill. regardless of bonus, would cause
a deficit.
The gentleman in the Treasury
office ought either keep his hands on
the administration of this law alone or
resign" he said. I'VE will pass it
over a veto"
Would support Veto.
Representative Treadway, Massa-
chusetts, one of the Republican con-
ferees, defended the change in the
board of tax appeals section as neces-
sary to the best administration of
the law. He denounced the measure,
however, for not going far enough
in the reduction of sureaxes, and
declared if President Coolidge vetoed
it he would support the veto.
Representative Tilson, Republican,
Connecticut, who conferred with Pres
ident Coolidge Saturday, said he re-
gretted the publicity features of the
bill and advocated the original Mellon
plan. Representative Graham, Re
publican, Pennsylvania, characterized
1t as "pernicious and an evil and
peril to the best business interests"
and Representative Hill. Republican,
Maryland, opposed it because of the
publicity provisions
The measure was commended by
Representative Hawley, Oregon,
Republican conferee, and again TAX
ing the floor Chairman Green declar-
ed it would reduce taxes this calendar
year 1892 100000: next calendar year,
$437, 100000; the following year. $751;
100000 and the next, $400,000,000.
Objection by Mellon.
AS passed originally by the House,
the bill contained provisions advanc-
ed mostly by Republicans. The Sen
ate, however. wrote into the measure
some amendments, including the in
come tax schedule proposed by Sena-
tor Simmons, Democrat, North Caro-
lima, on votes of the Democratic
publican insurgent coalition. Except
for the income schedule, most of the
latter were modified or stricken out
by the conferees, but Secretary Mel
lon has voiced objection to the House
provisions accepted by the conferees
for publication Of the amounts paid
by all taxpayers and increasing the
estate tax rates.
Concern over the extent of reduc-
ton authorized has been diminished
apparently by the announcement by
that the latest calculation by gov.
ernment actuaries shows the bill will
raise sufficient revenue to take care
not only of all government expenses.
but of the new bonus iaW, ana leave
a. surplus Of about $2,0O0,Oe0.
Suggestions Rejected.
Although some of the administra-
tive changes recommended by Secre-
tary Mellon were incorporated in the
bill. his suggestions on the form of
tax reduction were rejected almost in
their entirety.
The income schedule now in the bill
calls for reductions In the present
normal taxes of per cent on incomes
below $4,000 and 8 per cent above, to
9 per cent on incomes under $4,000, 4
per cent on incomes between $4,000
and $4,000, and 6 per cent above. 1t
provides for scaling down In the
present tax rates, with maximum
Of 40 per cent applicable on incomes
of $500, 900 and over. The present
maximum surtax rate is SO per cent
on incomes of 100000 and over.
Reduction This Year.
The bill provides. further, for a Is
per cent reduction on income taxes
payable this year. permitting a cut
on the next installment, June Is, IL
approved by President Coolidge. Ad-
ministration spokesmen declare that
if President Coolidge vetoes the bill
and IL fails of repassage, this provis-
ion will be incorporated in a separate
resolution and pressed for immediate
action.
When debate opened in the House
Chairman Green of the ways and
means committee said the Treasury
actuary had assured him today that
there would be a sufficient surplus
this year to pay for the bonus next
Under operation of the bill next
fiscal year, Treasury estimates
be a surplus of $13S,000,000.
Representative Mapes. Republican.
vouched for these figures and Chair
man Green replied it meant the
Treasury approved them as correct.
The conference bill goes $4,000, 600
beyond the reductions recommended
by Secretary Mellon.