Evening star., 1938-05-26
TAX BILL DECISION
0FPRES|DENT DUE
Executive to Tell Fate of
Revision Measure in
Address Tomorrow.

President Roosevelt will announce
his disposition of the important tax
revision bill tomorrow afternoon in
an address at Arthurdale. w. Va.
The President is scheduled to speak
at 2 pm. at graduation exercises of
the high school at the Arthurdale
Resettlement project, but the an
nounced subject of his address will
give it an interest national in char
acter. The speech is to be broadcast
nationally.
With the deadline for presidential
action on the bill falling tomorrow
midnight, speculation on what he may
do has increased steadily since it came
to him earlier In the month from
Congress.
Major provisions Of the measure are
the extreme modification of the undis-
tributed corporate profits tax and
complete change in theory of taxing
long-term capital gains. Both sources
are being taxed currently in accord
with principles conceived and applied
for the first time by this administra-
ton.
President Opposed Much Change.
When persistent and UNMARRIED criti-
cism of the two levies resulted in will
lingness of Congress to amend them at
the present session, the President pro-
tested in letter to House and Senate
conferees against complete abandon
ment of the two principles involved. A
compromise finally was reached, but
the President has not yet indicated
whether he feels that too great conces-
sions were made to foes of the two
taxes.
Three courses of action are open to
the President: First, a veto of the
legislation; second, signature Of ap-
proval; third, letting the bill become
law without his signature.
The general expectation is that he
will sign the measure, but make plain
his disapproval of some Of the major
revisions, although no accurate ad-
vance information has been obtained
as to his actual intent.
It was said at the White House at
noon that the President had not
started to draft his address for to-
morrow and little time appeared avail
able before his departure tonight. He
was at his desk early and disposed of
quantity of routine business, nclud-
ing the signing of half dozen minor
bills, and went through a compare
lively long engagement list, which in
cluded a meeting with his cabinet.
Confers With Jesse Jones.
One Of his conferences during the
forenoon was with Jesse Jones, chair
man of the Reconstruction Finance
Corp, during which they debated the
possibility or advisability" of under
taking any railroad legislation at this
session of Congress.
1--WE could study the railroad prob
lem for 2 years or for 20 years"
Mr.. Jones told reporters after his con-
ference, land we wouldn't know any
more about it than we do already. 1t
is simply a question of designating
some one to sit down and write out a
program-what we want is not gen.
eralities, but pungent facts set down
in one, two, three STYLE"
The President discussed the railroad
problem with another caller-Chair-
man Summers Of the House Judiciary
Committee.
The President conferred also with
Representative SABBATH, Democrat, OF
Illinois, Josephus Daniels, Ambassador
to Mexico, and Senator Duffy. Demo-
crat, Of Wisconsin, the latter being the
Presidents guest at luncheon. The
President also received the Farm Sc
curity Administration regional direc-
tors, who have been meeting in Wash
ington for several days.
To Meet Mrs. Roosevelt.
Leaving here by special train to-
night, the presidential party is due IN
Reedsville, nearest railroad point to
Arthurdale, between . and 10 am. to-
&C.. D0OCTJTrY. Page A.3)