Salt Lake Telegram | 1934-01-25 | Page 3 | Tax Revision Act due Soon

rT TAX AX REVISION RE VISION r i ACT DUE SOON t. t t House Body to Report Out Revenue Rev Rev- f Bill Bitt WASHINGTON Jan 25 UP UP-e UP The e f house J ways and means committee i it H was J-was learned today has reached a ten lt decision to rep report rt out out a a tax revision bill which would place a penalty on consolidated income in in- income come ome tax returns and impose a tax Ux on foreign t tax tx x credits The legislation Uon will be the next maJor major ma major jor bill of ot financial importance to be considered by the house Since hearings hearings hear hear- ings were held on the tax revision proposals of ot a a subcommittee in n December December De De- cember opposition of the treasury to certain of the restrictions have developed de de- de- de Despite the attitude of the treasury that various proposals of the subcommittee would retard business it was learned earned the main the proposals proposals- would be followed