Show INSIDE STUFF By PAUL AUL MALLON WASHINGTON Feb 8 A 8 A fairly d definite line on legislation to be ex expected x p from this session of congress Isnow is isnow n now ow available You will get a new tax law Jaw which n need eed not worry anyone with an Income income in In- Inome c come ome below or so Slight reductions re re- re d will be bo granted persons in t that hat class who earn their money The r reductions will not apply to those who make their living by clipping c coupons on investments T The h e C big money N New ew Tax Law fellows will get Wilt Will Ignore quite a jolt but in L Little ittle Incomes a very legitimate way The loopholes loopholes loop loop- h holes oles by which they crawled o out t of t taxes axes going to be blo blocked kd a and nd the rates on une unearned income in c creased Th The b blocking will be done along s sane ane lines suggested by the treasury a and nd not the painful ones outlined a 8 afew f few ew weeks ago ago by a house C S The St. St Lawrence waterway treaty is i s doomed A secret t poll made by a s senate enate leader a few days ago showed 43 votes against it That is ten votes more than enough to kill it A treaty requires a two thirds major major- ity Mr Roosevelt might save it if i he came out with a strong demand for action but there is no indication that tha t he will He is expected to let it go to a vote and then after it is Js dead renew negotiations negotiations' With Canada Canada Can ada da for a treaty that can be ratified The pure pur food St. St Lawrence bill has been sub Waterway Tact Pact to a strong Seems Seema Doomed inside b bat a t t erin ering from an aroused opposition S tion It probably will fall fail Professor Professor Pro Pro- fessor lessor Tugwell start started d the fuss b bj by writing the original Copeland bill S His interest has c cooled led considerably since the measure haS ha been rewritten If II any bill bulls is p passed it will not be the Tugwell bill ill b but buta t-a t a far more m moderate der te teme me measure C C The fate of the the stock stock market legislation legislation legis lation is not very clear but bul in ir the end a law v probably will vIll be pass passed d i I placing all aU exchanges under r f d dr r 1 l I license The Thc big question n Js whether s' s the bill should include de specific detail detailed detailed de de- tail tailed d regulations regulations' f for r exchanges s A detailed measure may mayg go through the senate but there are arc Indications that thai the details will be eliminated in the house Final Pinal disposition n h of the m meas measure as ure depends on on what pressure pressur is exerted exerted ex ex- ex by the White House So far there has been none Modification o of Plan Licenses the securities adFor act ad For Exchanges I is virtually cern eer I In n Stock Mart tam taint The liability of or corporations for errors will be relieved in such a way as to benefit th the capital fIna finance mar mar- ket S Any important rai railroad road legislations legislation i is ts s out of the question A move may be made nad to change hang the R. R C C. C F. F law lawso lawso so as rail raU financing but thais that tha thatis is vcr very indefinite The bus regulation regulation regulation regula regula- tion bill is isso so dead it could not be re revived revived re- re with a Chairman Rayburn of the house interstate com merce committee is playing around with a communications bill along the general lines Unes vaguely desired by the administration It Jt cannot get any where There will not be any further further further fur fur- ther general banking legislation but bu there will vill be an administration amendment to io th the deposit insurance a act ct probably limiting the guarantee t to o deposits under These are the only important items w which have a chance It is quite evident that this session o of f congress is being held more or 01 less u under Mr Roosevelt's hat Even the con con- Mr Roosevelt gressmen t the h e m m- l n las Has Control l selves elves elve do not know O Of f Congress exa exactly what they ate are going to do a about bout certain items until the president president d dent ent decides It would take a mind reader to get t the he details out of Mr Roosevelt and e even ven he might have trouble because he h e himself docs 3 n not t appear to be very c clear lear about it Jt He vo would ld like Ike to get t tariff ariff bargaining pow power r but has been t told old he ha had better submit that L issue this session He is trying to tow w w work ork rk out a scheme chem whereby he can canet g get et th the power without causing too m much uch of ot an uproar in lit congress That w will ill be hard to do I The presidents president's main purpose is to i induce congress to adjourn as soon a as ns s possible H He has mellowed a little I In n that purpose se sin since ehe he has seen ho how P eager the boys are to do his bidding But he does not nol want vant to submit anything any any- t thing hing which will start a fight and delay th the end The house hOWie is playing his game by rushing the appropriation bills through Those are arc the only bills which really must be passed before adjournment They carry funds forthe for tor forthe S the government t to operate next year 0 The e expected x p e I Investigations sensational c conNot con con- o a Not Likely gr To Materialize ies les into government government govern ment ments ment's s spending spendin pen ding have failed to materialize The man mall I contract inquiry Is being pushed ardently ardently ardently ar ar- ar- ar S IS dently but it is raking g over the coals left by the pr previous administration None of the Republicans seem to want to start raking the live coals of ol this administration It appears they ar are quite content to let things go along as they are for the present S They may start investigating public works C W A A. A et ct al next ye year r if ii public opinion is more encouraging For the present th they want to get gel federal mane money out of f the grab bag themselves while white grabbing hood Js Copyright 1934 for lor The Telegram 6 |