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Show SOLDIERS' REACHES SENATE ' - . - , PLAN CARRIES NO ADDITIONAL TAXATION FEATURES, CUTS f BIO SUM FROM ESTIMATES Senator McCumber's Measure Pro. vides Adjusted Service Pay, But j No Cash Payment If Credit Exceed Fifty Dollars - ' ... Washington. The soldiers bonus bill was formally presented Thursday n the senate by Chairman McCumber t the finance committee with an ac-sompanylng ac-sompanylng report placing the probable prob-able cost to the federal government at 3,845,Cf9,481, spread over a period of forty-three years from next January 1. rhis Is appoxlmately $250,000,000 less than the estimate under the house bill, Which was f.t.008,719,350, payuble over Iwejnty years. The senate bill estimate was pre. pared by treasury experts and Is based On the theory that 75 per cent of the 1,458,199 veterans who would be eligible eligi-ble for compensation would elect the adjusted service certificate option, 22 H per cent farm, home and land settlement, set-tlement, and 2Vi per cent vocational training aid. Should all of the veterans veter-ans select the certificate plan the to-tnl to-tnl cost would be $4,486,545,973. With reference to financing the legislation, leg-islation, Chairman McCumber's report said it was hoped that the reduction In governmental expenditures plus the payment of interest on the refunded foreign obligations would be sufficient to oUvtnte tlio tmnnulH.in nf mlrlltlnn.il w - " v U UUI lilVUUl taxntion. "If it does become necessary to impose im-pose additional taxes," the report con-iinued, con-iinued, 'lt Is believed wo can better determine, the amouiit of the necessary neces-sary levy and. the methods of. distributing distrib-uting such burdens for the future at a later date when the future condition of the treasury will be more accurately established." Senator McCumber explained that an attempt had been made to reduce to a minimum actual cash payments under the bill during the next three years whllg the treasury Is encaged in refunding the nearly seven billions nf dollars maturing government obll. gutions. The estimated cost of the bonus bo-nus for those three years was 242,-900,000. 242,-900,000. After its presentation to the senate the bonus bill went to the calendar, where it will remain until there Js an ngeement to call It up. Senator McCumber Mc-Cumber and some other, proponents j ilesire early; action, but V'veal He- publican lealrs are opprsed to sido- ' tracking the tariff bill, as they expect the fight ove the bonus to consume at least a month and perhaps six weeks. Tills measure differs somewhat from the house bill and very widely from the bonus bill that was reported to the senate last year and later sent back to the finance committee at the request of President Harding. |