Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-04-08
NEW TAX MEASURE
| READY FOR SENATE
EARLY THIS WEEK
.Mah Joog and Radio Sets
Included in New Schedule
Bonus to Be Taken Up by
Committee


WASHINGTON, April Ga last
minute attack on the revenue bill IN
an all-day session of the senate
finance committee Saturday brought
changes in the taxes on radio sets,
iewahy and estates. and postponed
a report of the measure to the SEN
ate until next week.
| The ten per cent radio tax was
made applicable to all sets and parts
without exemption after the commit
tee earlier in the day had voted to
increase from SIS 10 $50 the mini
mum price of on which the
tax would be levied.
This and the ten per cent tax on
Nah Jons sets costing more than So
are the only new taxes carried by
the bill The taxes are levied on
! the manufactured. The radio tax
| Chairman Smoot declared, would not
result in an increase in the price OF
the sets and parts to consumers.
Just which parts viii be taxed,
however, will be left to the jHrisdic-
ton of the internal revenue bureau
as in the case of tax on automobile
parts, Mr.. Smoot said. He figured
the tax would net about 100000, 900,
pointing out, however, that no ac-
citrate estimates were available.
Practically all of the rate schcd-
ules now have been agreed upon,
Mr.. Smoot said, and he predicted
that the few odds and ends of the
bill yet to be taken up would be
agreed upon Monday, so that the
bill may be reported to the senate
| by Wednesday.
Consideration Next Week
| This, however, will necessarily de-
lay actual consideration of it by the
senate until the following week.
Meanwhile, Chairman Smoot said
the soldier bonus bill passed by the
senate would be taken up by the
committee. Little time would be
necessary for disposition of this
measure, he added, and several Re
publican member predicted the
. bonus bill would be given precedence
over the tax bill on the floor of the
senate -.-
The house provision opening tax
returns to Inspections by congress
| sional committees was broadened to-
! day by elimination of a previous re-
I striction voted by e finance com
! mittee, making it possible for the
| committees to make public amy
! relevant or useful information" OBJ
/ tanned in inspection of the tax re-
| turns. The committee had preVi-
! ously voted to allow congressional
! committees to make public only the
names, addresses, amount of tax
paid and amount of refunds given
of the tax ~ers whose returns
/ were inspected.
Secretary Melons proposal to cut
out the house a nendment increasing
! the estate tax in favor OF the pres
/ ent rates was agreed to definitely
| today. The committee planned to
] Keep iUC III tSttlI 1 dlCS DuI cIPPiN
! them to different brackets so that
! Sl2, 900 900 additional revenue would
be raised, the same as would have
been gained under the house amend
ment.
Changes at Last Moment
1t also was decided today to limit
articles exempt from the five per
cent ieWelry tax ON those selling
! for less than $25 rather than those
selling for $40 or less, as voted by
! the house. Musical instruments, eye
! glasses and spectacles, which were
exempted by the house from any tax
under this section, We're again
made subject to the levy, and articles
used in religious services were eX-
empted entirely.
Changes--1nade today in the bill
| viii not alter materially the esti-
mate that it will fail by about $50
000, 900 of raising sufficient revenue
to- meet estimated expenditures OF
the government next year, Chairman
/ Smoot said. He has predicted, how
! ever such a deficit would be wiped
| out by an increase over that estl-
/ mated by tie treasury.
NrnDTIlNEITST AIE\