Show CONGRESS I TAX X Rf REDUCTION AS fIRST Dill BILL Resolution for C Cl Cut e Gets Initial 1 Consideration r tion at t. t Session ri S SPEED p E IE E P EXPECTED Forecasts recasts Adoption ion Thursday By 81 PA PAUL L R. R MAll MALLON N United Press Pres Staff Corres Correspondent WASHINGTON WASHINGTON Dee Dec 2 UP UPA UP- UP A A n proposing a tax reduction was wis dropped into the house bill hopper as the first legislation legs legis lation to be o offered when the S 'S Sev Sev- v- v first enty-first congress convened i in its first regular toni long session senion t today dy Chairman Ha ey of of oc the tho house ways wars and means committee who 1 the legislation In behalf ot of tho the administration announced completion of ot a 3 program which would make mako possible Its Us adoption by bytha bythe the tha house Thursday In tho the simplest terms the resolution resolution reso reso- lution proposes a a. 1 I p per ni upon all nH classen er O tl Individuals Individual and nd corporations I T The ri o normal t c on individuals estates and trusts trust would 1 from B 6 6 3 1 and 1 2 11 2 1 per percent cent ent to lo 2 and one half of or one pier per cent re re- re cl The tak taz a upon upon corporations corpora lions and Insurance companies would be cut from 1 12 to 1 11 per pcr cent EFFECTIVE JANUARY 1 Th The Tho resolution provides that the thc reduction be lie effective January 1 I 1929 which mak makes mahOs s it applicable to earnings of or this year payments for which are lUe to bo be made nade C beginning I ne net t March Match l 15 While hll the house and tho senate were s going ln through the brief brier formal formal format for for- mal mat routine of or organizing their their- sessions see sea for business the ta tax reduction reduction tion lion resolution r was vas being being- referred being referred to lo Hawleys Hawley's s committee for r consideration consid consid- A hearing will be held Wednesday for Undersecretary of or the Treasury y Mills and the tho resolution resolution tion will be reported to the house Th Thursday Hawley said The group which controls the house led by Speaker Longworth and nci Republican J Floor loor L Leader ade Til lion jon has made arrangements to take up the resolution Thursday for lim- lim too deb tite and they expect the legislation iI will be on j its s way way to the senate Thursday night r preparations already are arc being made to r che It fn In th the 8 senate nato and foll p page pago g S 8 CONG CONGRESS ESS VIEWS TAX REDUCTION AS FIRST BILL Continued from rom pago page 1 adopt It there ther before the Chr Christmas 3 I TJ e cum cumbersome r omo senate en to machine makes tho the same samo peed speed as I tho house almost impossible but thero there is a a. general unanimity un of or opinion among Republicans And Democrats that th the legislation will wUI willbo bo be speedily enacted because of ot Its encouraging effect on tho the general business situation The Tho administration will swing its full ull force torce behind tho resolution within th the next few fen te da days s The Tho tax cut move mO as was the outstandIng outstanding outstanding out out- standing event c of or the con convening 0 o of Mr Hoovers Hoover's congress cOIls At noon in accordance accordance- with Uh tho constitution Vice ViC President Curtis and Speaker Nicholas Nicholas' Longworth respectively c called both houses to order Announcements Announcement were made that the long Jong session U was convened and tho the roll was ordered to to be called to ascertain officially If th there re was wasa a a 3 quorum present The Thc session was not fully attend attend- ed cd The thin coating oC of leD ice on the Jhc pavements outside made hazardous b by continuous rain k kept pt ninny many of ot the tho elder statesmen indoors while others s realising no b business was as as to tob tobe tobo b bo be trans transacted on the th opening da day remained away The usual resolutions were adopted adopt adopt- ed giving official notice that congress congress con congress con con- gress was in session and ready for tor business a Committees w were re appointed appoint appoint- c ed b by the and senate to no- no notify no Uh y the president personally The senate session lasted only seven even minutes a |