The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-04-02
Billi0n-Dollar Tax Bill Is Approved by
House 327 to 64; N0lv Goes to Se,1atI
Increased Revenue and De.
creased Expenses Expected
to Balance Budget

washington. April c.-{P)-The bill
lion dollar tax bill was through the
house Saturday and dispatched to the
senate on an overwhelming vote
which concluded in unity three bitter
weeks of battling and debate.
SURPRISING in it's rates any rev.
enue raising proposal hitherto draft
ed In congress during peace time, the
bill was approved by the house late
Friday. The senate favorably dis
posed toward it, will begin consider
alton early next week in committee
hearings.
Combined with stringent economies
lin appropriations. the bill Is, designed
to end deficits and place the govern
ment on selt-supporting basis for
the coming fiscal year. The Demo-
Gratis controlling the house expect the
bill to achieve this aim, raising an
estimated $l.032, 4O0. 900, to which they
promise to add more than 5000. 900,
600 OF appropriation cuts.
The treasury shaves the estimated
yield of the bill to 1897, a 1000 and
cuts the possible appropriation re-
auctions to $155, 100000, thus expect
ing it to fall short by about $83,000,-
600 of equaling the anticipated ST.
24l 100000 deficit. The figures enter
ing all calculations, however, are
estimates subject to marked change
as time passes.
The vote by which the bill went
through was SGT to GA, on entirely
non partisan lines. Favoring it were
164 Democrats and 1872 Republicans
while 81 Democrats and n Repub-
licans voted against. This sweeping
victory was preceded by a lengthy
series CT roll calls in which the house
went down the line for its leaders
supporting every amendment brought
by the ways ana means committee
and rejecting one clause previously
written in the bill over committee
protest.
Sales Tax Beaten Again
In one vote. however, the member
ship recorded itself, 236 to 100
against the general sales tax which
was stricken from the bill at the
climax CT the earlier revolt and
which the committee and the house
leaders had abandoned.
In the senate there is now definite
assurance the sales tax issue will not
be revived. The bill is expected tt
receive the same strong Republican
Democratic coalition support which
put through the reconstruction cor
poration. the credit expansion &C,
and other units of the bipartisan
program for economic recovery.
Chairman Smoot CRep.. Utah Of
the finance committee. will assemble
his group Tuesday or "Wednesday tt
begin work. He expects to hold hear.
ings at which every industry taxed
under this bill already Is seeking tc
be heard to renew the vigorous argu-
mcnts they made before the house
committee. Meantime the Democratic
senator's have been called by thei,
leader, Robinson of Arkansas, to meet
next week in parley which he pre-
diets will record a favorable attitude
on the bill.
A number of changes In the meas
ure may result but no wholesale
alteration Is In prospect.
As drawn the bill is intended tt
produce more than $500. 00o. 900 yea,
In excise taxes on selected articles
chosen with the idea Of avoiding
everything in the necessity class sc
as to place the burden on those con-
sidered best able to pay.
All Lcvies Boosted
Income, Surtax, corporate and
estate taxes all have been boosted
and substantial levies have beer
placed on stock, bond and produce
future sales, and on dividends
Many administrative changes. alter.
ing bases Of exemptions, deductions
ETC., are to yield millions.
The bill began to appear necessary
last summer and fall when the BAG
economic situation showed the gov.
eminent could not meet its tremen'
dous expenditures out OF the revenu.
sources then being tapped, and in.
dicated continued indefinite borrow.
ing would have grave economic con
sequences.
The house ways and means com
mittee began study Of the treasur,
program for raising about 1920, 0oo, 0O(
(then the estimated deficit for 1898
Continued on page Three)