Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1928-05-22
SENATE SENDS
TAX CUT BILL
TOADJUSTORS
House Act Has
| EOS Million Slice AS
Compared With 200
j House Slash

alis WASHINGTON. May 22.EP1-.-A
An D5. 900 900 senate tax reduction biii
Of as bound for the congressional az.
wo stment room today, there 70 NEE
E thr,e $3.50. 000, 900 house partner Tor I
y Decentralization OF differences.
The senate passed its measure late
Il ctiast night after several attempts y
" fl fttach tariff and farm riders were
h Overwhelmingly defeated, with the
nf l~.Glemocrats aiding the republicans N
q lsfefusing saddles TO these proposals
ri These two groups parted company
However, in a stirring last minute
attic which the republicans won
4. lus keeping their program WITHIN
,ttelnge OF the 5000. 00O. 1000 reduction
,r imitation set by President Coolidge
lsor d Secretary Mellon.'
jar Democrats Defeated
ID In this drive the democrats were
defeated after two roll calls. the last
The esulting in a tie vote which was
,,s roken by Vice President Dawes, OF
j, te one plank Of their s325,00O,OOU
Inc 'ogram they previously had placed
ION ~ the bill-a graduated scale q low
The rates on corporations with m
ION asmes under $4,000.
3. L. Elimi-.'io 4 this provision Topped
sdio a. SEATED a " the total reduction
---gNlutu 49, - measure NV N1'
appro 4 without n record vote.
'ent' 4 probsoiywill be several days be-
fore an agreement is reached between
T. the senate and house conferees, nut
whic leaders are confident the measure
form can be whipped into shape for final
Rs approval by both the senate and house
iii. and sent to the president by the end
a.. Of the week. Adjournment of con-
gress by Saturday or early next week
gen. is planned.
II Believe Larger Cut Safe
While the president set $500 .OOO.OOo
befol as the outside limit Of tax reduction
He which the condition or the treasury
vim would permit, leaders believe he will
-a-.- sign a measure providing a cut o.
WITS 750,000,0 900.
Corporations get the biggest slice
DIX the tax cut. winning Sl2.OOO.OOo N
Vile ne increase in exemptions for cor
,~rations from $4,000 TO $4,000, and
Judge ,2.000,0 900 in the senate bill which
= ~. duces the corporation rate from
1-2 per cent 70 II IL per cent or
l64. 10 900 in the house measure
IN ' hich slashed the rate TO IL IL per
No cent.
she The following reductions were vot-
,ur ed by both the house and senate and
H. will not be subject 70 change in the
q impending conference:
80 Repeal Of the 3 per cent automobile
% tax, loss in revenue $685. 1000; in
Ct crease in exemptions allowed cor
jar, porations. loss sl2. 1000. 0O0; repeal Of
ar, cereal beverages tax, loss Sls5.00
II and reduction OF wine tax, loss $780,
. , COO.
Many Differences
H. Differences exist over reduction in
IT. the corporation rate; increase in ex-
"a emptions allowed under the admis-
II sion tax. the house voting 10 raise
n the rs cents exemption 10 81 and the
BIZ senate 10 SO; in the 10 per cent club
- dues levy. the house voting TO cut
this in half while the senate restored
re the full rate but increased the ex-
emption from $40 20 SOS; in the
T. graduated scale OF lower rates on cor
porations with incomes under S15,-
% 900; in revision Of the individual in
come surtax rates applying on the
brackets of $4,000 TO 100000 in
comes, the house making no provision
~ for this which was voted by the SEN
:. ate; and in the taxes on capital
IN stock transfers and future sales Of
= produce. levies which the house modi-
I'D fled but the senate restored.