The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-06-01
Budget Balancing Measure
Reaches Last Stages of
TOrtuOuS Journey.
FINAL VOTE is II TO II
Five Months of Dispute Is
Closed in Day Full of
Drama.
"Details Of Tex Bill. passed BY ssuate.
page hve.l
By MARSHALL M'NEIL
Times stan Writer

WASHINGTON, June l. The
budget-balancing tax bill, passed
by the senate in the early hours of
this morning, is in the final stages
Of its tortuous journey.
The bill levies sl,121, 600, 900 in
new taxes, ranging from a levy of
2 per cent on chewing gum to a
levy of SIS per cent on the income
of millionaires.
The senate finally approved the
bill just after midnight Tuesday
night. after refusing to accept the
sales tax President Hoover person.
ally had recommended. The vote
was 70 to II.
Thus ended five months of legis-
lative controversy, and a day more
hectic, dramatic and packed with
surprises than any in the senate's
history since wal times.
Ready for Conference
The senate's action in passing the
bill is contemplated by the congress,
the administration and bankers to
halt the general decline in business,
strengthen federal finances and kill
fear in foreign countries concerning
the value Of our dollar.
The bill. passed by the house on
April Fools day and taken up in
the senate on Friday. May Is. will
be sent to conference between the
two houses probably Thursday.
Some changes undoubtedly will be
made in conference. but it is as
sured that the resulting revenue will
balance the federal budget next ifs
cal year, with some $3.50, 0OO, 900 in
governmental economies included.
These economies are to be accom-
plished by a bill reported to the
senate Tuesday night and now on
the calendar as its unfinished bust
ness.
Hoover Urged Sales Tax
The debate on the sales tax final
ly started in the senate at IL O'clock
Tuesday night. exactly eleven hours
after Hoover appeared personally
before the senate, and urged it's en-
actment as part of a plan to bal
ance the budget.
The proposal was presented by
Senator David I. Walsh Dem,
Mass.), and it was defeated by a
vote of SO to 81.
With the emphasis upon speed,
the house today appointed c~onferees
to meet with selected senators tc
put the billion dollar tax bill into
final form for President Hoover's
signature.
Applause and cheers broke out in
the house as action was taken to
hasten the bills progress to the
White House. Little difficulty in
adjusting house and senate differ
ences was anticipated.
Reactions were world-wid as
bourses abroad, reacted favorably
to the news that congress was well
on its way to completion of one of
its greatest peace time pieces of
legislation.
COnferees Are Named
The house ~conferees will be free
to effect any compromise they feel
necessary to bring about a speedy
agreement on the revenue bill.
Speaker Garner announced the
following members of the committee
would meet with representatives of
the senate to compromise differ
ences in the bill:
Democrats, Collier CMiss.). Crisp
(Ga.), Rainey (Ill.), and Repub-
licans Hawley (Ore.), and Treadway
CMass.).
The house conferees will meet
early Thursday with the five senate
representatives. chosen late Tues
day. The senate conferees are
Chairman Smoot of the finance
committee, Senator Reed rep,
Pa, Senator Watson rep, Ind,
Senator Harrison Dem, Miss.) and
Senator King Dem., Utah.
Little difficulty is anticipated.
The most controversial item is the