Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1924-05-27
SENATE APPROVES
TAX BILL REPORT
FROM CONF FERENCE

WASHINGTON, May 24.-Thc
conference report on the tax reduc-
ton bill was approved today by the
senate.
1t will be taken up by the house
Monday, and if accepted there un-
changed will be sent 10 the presi-
dent.
The report is a compromise be-
tween the senate and the house bills,
carrying the senate Democratic in
come rate schedule and the house
provision for limited publicity of re
turns and no change in the present
corporation tax
The vote on approving the report
was 60 to 6.
Thirty Republicans and thirty
Democrats supported the conference
report while five Republicans and
one FarmerLaborite, Johnson, OIL
Minnesota, opposed it. Besides Sen
ator Johnson those voting in the neg
ative were Brookhart, Ernst Fra
zier, Moses and Morris.
Thirty Republicans and thirty
Democrats supported the conference
report while five Republicans ana
one farmer-la Dor, Johnson, OF MIME
sofa, opposed it. Besides Senator
Johnson those voting in the mega
tive were Brookhart, Ernst, FRAZER,
Moses and Norris.
Bill to Raise Revenue
Senator Brookhart announced,
however, he would vote to override
a veto of the bill. Senator Norris
opposed the report because of the
restrictio it made on his proposal
for full publicity of returns but
Joined with other Republican ana
Democratic spokesman in laudlnS
the conference measure otherwise.
The vote was taken by several
senators as a fair indication OF the
lineup, should the president veto
the bill. This, however, is considered
unlikely by several Republican lead
ars. The president conferred TO-DAY
with Representative Mills, Of New
York. and Tilson, of Connecticut,
Republicans, members of the house
ways and means committee, who
voted against passage of the Dill
when first before the house. Ihey
said Mr.. Coolidge indicated little
as to his probable final action. A.
though opposed to some of the pro-
sentatives are IN favor of enactment
Of A tax reduction measure into law
UpsettinS previous calculations,
Chairman Smoot, of the senate
finance committee, and one OF the
administration spokesman IN the
senate. declared today the measure
as now framed would meet all gov
ernmcnt expenses now regarded as
necessary, the next fiscal year, IN
Guiding the soldiers bonus outlay
and permit treasury surplus OF
$1,000, 900.
The house will take up the con
ference report Monday and an over
whelming acceptance there IS pre-
dicted. Little time is expected to be
devated to debate, and 1t is consld-
cred likely the measure may be sent
to the president by Tuesday
Speakers of both parties today
lauded the conference measure as
compared with the original proposal
of Secretary Mellon. Senator john
son, Republican, California, declared
the pending bill Infinitely more
just and better than the bill pro
posed by Mr.. Mellon" on the
ground that it offered more relief
to the taxpayers with smaller in
comes.
Praises Treasury Plan
Defending the treasury plan, Sen
ator Mclean, of Connecticut, one
of the Republican conferees, de-
clared 'the entire theory of operat-
ing the government by taxing about
one per cent of the people, when
probed, is shown to be an economic
fallacy and & physical and financial
impossibility."
IF the reformers really want to
benefit the small taxpayer" he add
ed. they should reduce the tax upor
the producer of his bread, clothing
and all of his necessities. This will
not only help the taxpayer, but
every one else, and the final result
will be material reduction in the
cost of living. together with every
Incentive to increase wages to the
deserving"
He urged, however, that the pend
ing bill become law and IAN intel
ligent solution Of the tax question
be taken up in the near future.
The income lax rate schedule APP
proved in the report today was pro-
posed by Senator Simmons, of
North Carolina, ranking Democrat
on the finance committee. 1t pro-
vides for a reduction in the present
normal rates of four per cent on in
comes of $4,000 and under. four
per cent on incomes between $4,000
and $4,000. and six per cent above
$4,000. The surtax schedule calls fo'
a s0npr1I c11jroe down in he Ore {.
ent rates and should start at one
per cent at $4,000. graduating UP
to forty per cent at $500 900.