Show SENATE ENATE PASSES BONUS BOND BILL 1111 U. U S. S Debt Warning From Treasury Overridden in 7 16 74 Vote V Veterans Veterans' Group Pus Pul f f Measure Through f 1 1 J. J S By United Press less WASHINGTON Jan 2 20 The senate today passed t the e 22 c o 0 om m p promise r orn Om i s e e bond and cash bonus bill under under under un un- der combined pressure of major major major ma- ma ma- ma jor veterans' veterans organizations organization and despite treasury warning that the national debt would swell veIl to 3 in 18 months Tl The e vote was 74 t to 16 It came aft after r the senate rejected a a- currency expansion am amendment ent Senator Elbert D D. Thomas of Utah voted for tor th the he bill bill while Senator William H. H King voted TOted against it President Roosevelt seve t S Is expected d to veto the bill bm but bonus bonus' advocates al s were confident they h d' d sufficient fici t votes votes' to override the White Ho House disapproval The sen senate te rejected amendments designed to reduce the load to be added immediately to federal federal federal fed- fed eral credit It refused to sanction discretionary currency Inflation House leaders are believed to have bave agreed to accept the senate senat bill They Tiley plan to vote Wednesday and send the bill bUtto to the White House How to Benefit Approximately compensation compe 1 certificates are are outstanding The Th senate bill but would a authorize 1 bonds for exchange with veterans vetera s who in turn would cash the new paper at any post office It is is' a a ca cash cah h bonus bill at tho the discretion of br W war l- l veterans Bonds could be cashed on OD and after June 15 5 Senate action came after less than three days days' debate The s senate nate bill provide provides provides' for immediate im- im mediate June 15 payment to veterans vet vet- crane erans of the 1945 value of their c rUti r- r Uti cates It requires a maximum appropriation of Of Of this sum would go 10 to veterans of ot the World war It t would be e offered in cash and nd in bonds londs which could be converted con Into cash The remainder is earmarked against other obligations Earlier today the senate rejected without record vote ote an amendment amendment amendment amend amend- ment by Senator King D. D Utah which would have based payment on the present cash surrender ler value instead of the 1945 maturity value King forecast an early drive for veterans' veterans pensions and said World war veterans already had cost the nation Ho He predicted passage of the the bonus bill v contribute to a total national national na na- na- na indebtedness of to o in the next fiscal year car Ho said eventually veterans' veterans expenses would amount to or more Favor I Income Levy A majority of the house ways and means committee favor higher in in- como come tax rates on the average man If f new reve revenue ue is demanded by by President resident Roosevelt to cover sol soldiers soldiers' soldiers soldiers' soldiers soldiers' sol sol- diers' diers bonus and substitute A AAA A A costs a poll pon revealed toda today But seven members members four four Ican and three Democrats Democrats IndI indi- indi ate J they would support a sales tax Continued on Pace Two Column Five SENATE SENAIE PASSES PASSES WAR VET BONUS C Continued nl fr from Pat One If It s substantial now revenues are ached d. d Three Republicans ans and 12 Democrate Democrats Democrats Demo Demo- crate of the committee of 25 looked on broadening of the ho In Income om tax base baso as the tho only feasible means of bringing in Jn new money Agreement Agreement Agree Agree- ment was general that Income levies on the wealthy were high en enough ugh Committee tax experts said only a relatively small amount of new rev revenue nue could be raised by Increasing increasIng ing taxes taxes' in other Categories A general m manufacturers manufacturers' sales tax ItIs it itIs itIs Is estimated would raise OCO a annually Bro Broadening of ot the in income income income in- in come tax base would raise from to 2500 dependent depend de dependent de- de pend pendent nt upon the tho scope The committee Is opposed opposed like like most members of ot congress congress to to new new tax J legislation this session The Democratic majority r recently voted not to consider any changes chang s in the present t tax x Jaw law Administration requests request may force reconsideration It was reported processing taxes might be reenacted for r general revenue revenue revenue reve- reve reve reve- nue purposes ses or or a manufacturers' manufacturers Excise tax might be substituted for forit it IL |