The Washington times., 1925-03-16
\ { v SLASH IN
INCOME TAXES
PROPOSED
Cong. Green Announces $780,
ooo, 900 Cut Win be APP
piled to 1926 Levy

An important reduction in revenue
taxation amounting to $S0O.OOO,O0
or more to be applied on the 1926
tax payments was announced today
BY CONGRESSMAN w. r. Green, Iowa.
chairman Of the House Ways ana
Means Committee.
The reductions will be made on
the income taxes, with possible low
ering of the maximum surtax on
larger incomes to 25 per cent and
proportionate reduction of all other
eurtaxes, and the lowering or elm
inatfon of other revenue taxes.
Chairman Green win convene in
session early in October the Ways
and Means Committee to prepare
the proposed revision OF the revenue
tax laws. 1t Is the intention to
have the necessary legislation ready
Tor Congress shortly after its open
ing in December that the new law
NAV become effective in time to
apply Its rates and provisions to
tax payments on incomes and bust
ness for the current calendar year.
500, 900. 900 Surplus.
Green estimates the Treasury sur
plus for the present fiscal year at
500, 0U0. 900, and the Treasury esti-
mate OF the surplus for the 1926
fiscal wear is $373. 900, 900. The ex-
tent OF tax reduction possible he
saws, depends on Treasury receipts
under the present law for the cur
rent calendar year and expenditures
chargeable against these receipts.
This data win be in the possession
OF the Ways and Means Committee
when 1t meets in October.
In statement on appropriations
made by Congress to meet expendi-
lures by the Government. Congress
man Martin B. Madden. chairman
OF the House Appropriations Com.
nlittee. said it was his judgment
that appropriations have practically
reached the postwar low-water.l
mark and they were more likely to
increase than to decrease in future
years. He advocated tax reduction
to take up existing and expected /
SURPRISES and warned against legis-
lafion imposing new burdens of tx-
pendffures to force again an up
ward revision of the tax rates.
S The total of appropriations made
by Congress at the last session was
81. 936, 92I ,277, Of which 81. 400. 057 1903 |
was permanent appropriations TAX
ing care of the public. debt and
sinking funds.
Four Billion appropriated
Total appropriations for the cur
rent fiscal year were, 81, 961, 4S3, 027, /
or $24 ,92I,7 more than for the !
next fiscal year. This reduction in
appropriations represents, Madden /
states. the extreme slashing OF esLi- /.
mates for Governmental expendf
lures possible to make. /
Madden pointed out in hts state
ment that Congress at its last see-
sion had enacted a. number of laws
which would require future appro-
priations for their execution, in I
cluding the postal pay. navy in
crease, rivers and harbors improve
ments, good roads. and additional I
soldier disqualification facilities. He !,
suggested the next Congress would
be forced to pass legislation for .
public building construction be- /,
cause of acute shortage of space in
many localities.
Congressman Joseph W. Byrns !
3D. OF Tennessee. a member of the
Appropriations Committee. CRITICS.
Ing appropriations for the navy
and army. said '.the time has ar .
rived when such heavy expendi-
lures must stop or else the people
Of the country VIII be exhausted
by the burden of taxation
The huge naval appropriation, !
said Byrns, emphasizes the I'M
portance of another and more eff
fectiYe conference on the limita- /
tion Of ornaments, and that the
former conference, which was he'd
under this Administration and ,
which was heralded to the country
Ms such an important step toward
the reduction Of ornaments, failed
70 accomplish what the people were
led to believe"