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Show sMI TO REVISE REVENUE BILL Contemplate Abolishing War Profits and Other Taxes in 1920. Consideration of Prospective Prospect-ive Loss Following the 'War Time' Prohibition. WASHINGTON, Nov. 21. A detailed plnn for revising the pending war revenue reve-nue bill so as to -impose taxes and provide revenues aggregating about $6,000,000,000 ner.t year and $4,000,000,000 in 1920 in line with Secretary McAdoo's recommendations, recommenda-tions, was submitted today to the .sen-nance .sen-nance committee by Chairman Sim- decision on the plan was deferred, jr but a vote may be reached tomorrow. Republican members vigorously opposed the proposal to establish 1320 tax rates in the measure, but Chairman Simmons said they were advised that if they obstructed ob-structed passage of the bill with the majority's ma-jority's plan to provide 19-0 taxation, a straight levy of SO per cent on war prof-Its, prof-Its, to furnish the government necessary revenues, will be put through. To Reduce Amount. Senator Simmons' plan to reduce the bill to $6,000,000,000 for 1919 proposes retention re-tention of the house rates on incomes and war excess profits, except the 6 per cent differential on undisturbed corporation earnings, elimination of the 20 per cent tax on luxuries and retention of other special miscellaneous taxes, but at rates not to exceed an increase of one-third over those of the existing law. For 1920 Senator Simmons' plan contemplates con-templates abolishing the war profits tax. reduction of individual find corporations' normal income rates from 12 to 8 per cent and reduction by about one-third In the excess profits schedule as now proposed in the revised committee draft. Also the special miscellaneous taxes would be continued con-tinued at the 1919 rates. Treasury Approval. Both plans for 1919 and 1920, as presented pre-sented by Senator Simmons, were said to have the approval of the treasury department de-partment and also, generally, of the Democratic members of the finance committee. com-mittee. Republicans indicated general satisfaction with the 1919 suggestions, but again opposed the 1920 extension. Senator Simmons said' the Democratic committeemen are determined upon the 1920 plan because they believe it is unwise un-wise to fix taxes only for 1919 without informing the business world of the future fu-ture program. The committee hopes to have the bill ready soon after the new session of congress con-gress convenes December 2, but the Re- publican opposition and other considerations, considera-tions, it was generally expected, may delay de-lay its enactment until next January. Consider Prohibition. In his proposal for reducing the bill to $6,000,000,000 for 1919, Chairman. Simmons Sim-mons took into consideration the prospective pros-pective Joss of about $1,000,000,000 as the result of the operation of the "war time" prohibition legislation signed today by President Wilson. His plan contem-nlatt-s raising about $5,000,000,000 next n from the income and war excess vroTits taxes and the remaining $1,000,-000,000 $1,000,-000,000 from tho other sources in the bill, but at the reduced rates suggested. "The theory upon which the income and excess profits taxes are differentiated froTT! the excise, special and miscellaneous taxes of the bill," said Mr. Simmons in a statement tonight, "is based upon the fact that in the case of incomes and excess profits tho taxes for the present fiscal year will be levied upon incomes made during the calendar year 1918, whereas in the case of the other taxes the increase will apply chiefly to transactions trans-actions taking place during the calendar year 1919. or sinco the termination of war conditions." The proposed reduction of $2,000,000,000 in taxes for 1920 Senator Simmons explained, ex-plained, would be accomplished principally through elimination of the war profit's tax and reduction from 12 to 8 per cent of the rate on corporations' normal incomes in-comes and those of individuals, together with reduction of about one-third In the excess profits rates. The high surtax rates on Individual incomes would run through |