Evening star., 1934-04-14
$3.50, 100000 Measure Is
o. KID, So to 7, by
Upper Chamber.
R00SEVELT'S OPINION
ON CHANGES AWAITED
Question of Sending Legislation
to Conference or Committee
to Be Settled Monday.
BY the Associated Press.

BY the Associated Press.
The tax bill sent out by the House
as a quarter billion dollar baby came
Dack to 1t today $480,000, 900 adult.
Looking with equanimity on its
boosts to new peace-time highs of
the leV1es on inheritances, gifts and
corporation. the Senate gave the
groWn-up bill bowling 53-to-7 bless
ing long after the dinner hour last
night.
House administration chiefs DUR
posely put of decision on what TO
90 about the multitude of Senate
changes. The chamber was in recess
To-Day. BY Monday. after consulta-
Clon with President Roosevelt, they
VIII decide whether to send the COM
pncated measure back to committee
Tor study or toss it forthwith into a
conference with the Senate to settle
olnerenceS. Once in conference il
Will remain at least a week.
Sl50,000. goo Increase Asked.
Senate leaders were Just as anxious
to find out the presidential opinion
OF some OF the changes wrought by a
haro-charging group of Republican
hnd Democratic independents.
While the President allowed for
only $ls0, 900 900 in increased taxa
tion in his budget for ls34-35, the
House provided an estims ted $685.
100000 in the bill it passed several
weeks ago.
The Senate jumped this to $3.50.
OO0,0OO by writing into the legisla-
ton higher taxes on large incomes.
corporations and estates, among other
things.
Both the Senate and House bills
provide relief for the man with
small or medium income, despite a
Senate-inserted 10 per cent one-year
emergency levy on all individual tax
returns in 1885.
This is one Of the items Senate
leaders wanted to talk over todav with
the President Experts calculate it
would raise SIS 900 900. Representa-
i've Byrns, the Democratic leader,
said action in the House on the levy
rested entirely on word from Mr..
Roosevelt.
The Senate pilots also want to
sound out the President on the "a Fol-
lette amendment requiring all tax re-
turns be subjected to public inspection.
There was the question, too, of the
cents a pound tax on Philippine
cocoanut oil, despite promises in the
independence act that no such trade
restriction would be enacted until
after a 10-year economic transition
period.
Whole Structure Revised.
Chairman Harrison Of the Finance
Committee, one of those on the execu-
tive calling list today, had informed
the Senate Mr.. Roosevelt was opposed
to full publicity on tax returns and
also felt strongly in opposition to the
Philippine tax.
Started on as a measure to tighten
the law against tax avoidance by
the wealthy and to simplify admini-
Strative procedure, the legislation in
the Senate became more and more a
revision Of the whole rate structure.
Under both the House and Senate
bill, the small taxpayer would pay
considerably less in the next calendar
year, because Of 10 per cent credit
on such incomes, after deductions, up
to $4,000: the House only 5000.
Both measures provide a fiat nor
NAL income tax rate Of 4 per cent
in lieu Of the existing per cent on
the first $4,000 net income plus 8
per cent on the excess.
The Senate bills raises surtaxes BY
a rate scale running from to SO per
cent, compared with 4 to SO In the
House bill and l to SIS In the present
law. To offset undue taxation by
starting the surtax at lower income
than at present, both measures extend
the same normal tax exemptions and
credits to the surtax payers.
The La Toilette plan to make all
tax returns public records. subject to
inspection upon application and under
regulations to be drawn by the Treas
ury with the approval of the President,
was one Of the last-minute amend
ments adopted yesterday.
McKeIlar Asked Change.
Senator Clark, Democrat Of Mis-
souri,, proposed Just before the final
NOtC W oubJCCk " III
come tax rates income from all out
standing tax-exempt securitieS-Fed-
eral, State and municipal-which
would have brought in several hundred
more millions in revenue, but he with
drew it after the proposal was modified
to eliminate State and municipal
bonds.
The modification was made at the
request of Senator Mcclellan, Demo-
crat of Tennessee, and carried 80 to
81, whereupon Clark said this "emas-
culated" his amendment.
Senator Ashurst, Democrat of Ari-
zona, threw the chamber into q bed
lam Of laughter just before the vote
when he called up an amendment to
increase the existing tariff on imported
copper from four to 10 cents a pound.
He announced that Clark was pre-
pared to propose elimination of the
present tariff, but both felt they could
not succeed. Ashurst then put his
amendment to a vote. When a roar
Of ayes" swept the chamber. Vice
(C0ntinued on paua Y Col,,ror a.