The Birmingham age-herald., 1924-05-21
CONFEREES NEAR COOLIDGE PLAN IN REVENUE BILL
Executives Approval Of
 Compromise Measure Is Predicted
By Leased Wire to The Age.HeraIdl

(By Leased Wire to The Age -Herald)
 WASHINGTON, May 20.-After several days of bartering, conferees from the House and Senate practi- cally have agreed on the final form of the tax bill, and the compromise approved by President Coolidge in the opinion of those who have measure they have drafted will be sounded out his views.
 Following an aIl-day session Tues day, it was announced that the conferees had reached basis of agreement, and that it likely would be formally ratified Wednesday. These are the compromises which have been made, it is understood: !:
 The Compromises
 1. Normal rates will be those in the Senate bill, 2 per cent on in- comes up to SA, GOO, ( per cent be- traen sa, ,e00 and sR, e0Qs and 6 per Ivided 5 per cent between $4,0O0 and $S,000,
 2. A compromise on surtax rates, with the maximum at 3S per cent on $200, 900. The House bill had 371A per cent maximum at $200,0 900 while the Senate maximum was 40 per cent at $500,00 The Senate rate, however, was 3S per cent at $200,0 900, and the Senate suftax schedule up to that point win be accepted, it is understood, as it provides q unit raise, instead of a frac- tional scale as in the House bill.
 3. The Norris amendment making in- come tax returns public to be stricken out, though the Jones amendment to the Senate bill requiring publicity in hearings of contested cases expected to be retained The House provision open ing tax returns to congressional com mittees under certain restrictions to remain in the bill.
 4. The Jones graduated corporation tax killed, in favor of the flat rate of 12h per cent, with $1 per $1,000 on capital stock, in the House bill.
 5. The Senate inheritance tax, scaling up to 36 per cent on $5,O00, 900 and over, to give way to the House estate tax, graduating to 40 per cent of $10,- 100000.
 Predict Approval
 This compromise measure, it was HASANNNNG AAA thC tDChdtC Il uCOudgy VIII be approved by the President. It abolishes two provisions in the Senate measure especially obnoxious to Cool idge, the publicity amendment and the Jones corporation tax, and brings the surtax rates to lower level.
 House conferees, who have been most successful, brought these changes. Both Garner and Coolier, House democratic conferees, were opposed to the Senate publicity amendment, which was sup- ported by Senate democrats. The House eonferees, in standing out for their bill, brought t more into line with what Coolidge wanted.
 Settlement of the bonus question has tened a decision, it was said, clearing the atmosphere. It opened the way for a settlement on some disputed provisions in the bill, which had been held up be- cause of the doubt as to the expense of the bonus.
 Senator Shoot of Utah, estimated Tuesday that the bill when finally drafted still would be short approxi- mately $100,000,000 of raising enough revenue to meet budget requirements.
 Senator Norris of Nebraska, is ex- pected to fight the removal by the con ferees of his income tax publicity amendment. Other changes also prob ably will be opposed However, it is believed that the majority of the changes will be approved.
 Secretary Melons view that the bonus will not endanger tax reduction, made known Monday, brought com nlent from democrats who pointed out that he had previously made it plain that there could not be both, and it was charged that his previous state- ments were merely aimed at the bonus.
 Secretary Mellon knew as well sometime ago as he does now, since the bonus Is passed, that it would not prevent tax reduction" Senator. Sim mons, ranking democrat on the. finance committee, said. He has just misled the American people,