Salt Lake Herald-Republican | 1919-02-02 | Page 13 | Revenue Bill is Ready for House Action

REVENUE BILL i IS READY FOR HOUSE ACTION Campaign Contributions Tax Proposed by Sena Senate e Js Is Eliminated Washington Feb 1 The I-The The war revenue revenue reve- reve I nue bill revised to raise about six Nix billion billion dollars b by taxation taX this year car carand and four tour billion dollars annual thereafter thereafter there there- after atter assumed mad final form late lato today when the time Senate and House conferees reached a c complete agreement agreement on on the I measure rc It lot will be bo be presented to the House Houge Wednesday I The The conference already had an- an no fc d agreements gr cm on n all H ta tax taic a adjust adjust- just just- I an-I and nd today was wa ot de devoted d to comparatively com f el minor l provisions A om-I om th these s was the tax ou on amp on- on a Senate pt provision i h th the tho House yesterday voted to reject and 1 d then afterward to accept cc pt it if modified modi fled fied to apply only to future ut re campaigns Time The he Senate conferees s it was reported yielded the tho amendment and agreed to Its elimination on The rhe conference report and final re redraft redraft re- re draft will bo be called up In the time House 1 I Friday a with the exception of or Its ap approval approval approval ap- ap before adjournment It will goto goto go goto to the time Senate Saturday and Chairman Simmons of ot tho Senate managers said tonight its passage was certain Absence of at President Wilson lIson the conferees stated staled made doubtful the exact data dato time the new tax law would be become become Je be- come effective but ut would would- not Interfere Interfere Inter Inter- fere fero with treasury treasur plans for collection of the new newt taxes As President Wilson Wil il ilson son son probably will bo tie on on tile the point of sailing when legislative action on the tho bill is concluded Senator Simmons said tonight that the engrossed cop copy pro probably abl would be held hold hero for tor his approval He lie then would have ten ton days s 's to consider It it Agreement by the conferees paves the of ot th the wn way for final enactment legislation which President Wilson and torm former r Secretary McAdoo asked last May The final draft like both House and aud Senate measures provides that oC of and antl the gross gloss lev levy war excess profits Income taxes shall bear tho the heaviest burdens