The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-02-26
Senator Chambers Defends
What Remains of
House Bill.

Manufacturers have flooded men,
bers of this senate with kilograms
opposing the passage of the corporate
income tax bill that are a reflection
on the senator's intelligence" Sem
ator Walter S. Chambers Dem,
Hancock, Henry and Madison) i,
Democratic floor leader, charged to-
day
Chambers took the floor to defend
what remained of the house cor
porate income tax measure, which
was being considered with amend
ments by the senate committee of
the whole.
Rate in the bill, as considered to-
day, has been cut from the original
3 per cent, as passed by the house,
to l per cent. This was done by an
amendment which was substituted
for the engrossed house bill in the
senate committee of the whole
Wednesday.
My own interests are corporate, y
Chambers explained. He is publish
er of the Newcastle Times Courier
But I am willing to support a
corporate income tax for the gem
eral welfare" h continued. ut is
necessary that the masses might
prosper, through relief of the tax
burden on the small property holder
which represents IS per cent {. cur
citizenry."
Challenges Moving Threat
The Newcastle senator then pro-
ceeded to challenge the threat that
business would move from the state.
He pointed out that with the 3 per
cent rate it would mean tax of
but 3 of per cent on capital in
veStment.
Iowa, he said, has the least tax
on industry, but is not an industrial
state, while New York has the
heaviest and is a leader.
AT 3 per cent Indiana will have
the most liberal corporation tax of
any industrial state" he asserted.
The reason certain large news
papers oppose the tax is because
they are paying on less than 10 per
cent of their market value, he con-
tended. He also confessed that at
Newcastle he is not paying on more
than 10 per cent Of his papers mar
ket value.
Holmes AsSailS Measure
Assault on the measure was led
by Senator G. Oliver Holmes (Rep.
Lake., who declared that it would
take industry in nine industrial
counties of the state which already
are paying As per cent of the state
levy.
This was refuted by Lieutenant
Edgar D. Bush, who cited figures
designed to show that manufac-
turers now are not bearing their
proportionate burden.
Senator Alonzo H. Lindley (Rep.,
Fountain, Vermilion and WARREN
also talked for the tax to save the
suffering farmer from the property
tax burden.
Speakers against it were Senators
! Winfield Miller CRep., Marion)
James j. Nejdl (Rep, Lake., Chester
A. Perkins (Dem., st. Joseph and
Earl Rowley (Rep., La Porte and
Starke).
Foes of Bill Satisfied
The latter served notice that
there shall be no change in the
rate in conference or the bill will be
killed and pointed out that he was
doing a great favor to support it
with the per cent schedule.
AT noon recess was taken and
the committee of the whole recon-
vened at 2 p. m.
Foes Of the entire income tax
scheme seemed satisfied with the
job accomplished Wednesday. They
emasculated the measure so that
friends no longer may support it,
they openly admitted.
THE result is a bill that will raise
little revenue, has no teeth to en-
force its provisions and is merely a
gesture to catch votes" Senator
John L. Niblack Rep., Marion) told
his colleagues as the Wednesday
session closed. He urged it be killed
forthwith.
Senator j. Clyde Hoffman Repa
Marion), chairman of the state tax
survey commission, estimated that
the ! per cent corporate tax viii
raise about 81 100000 with business
in its present state"
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