Show New Federal Tax Bill Recommended to House WASHINGTON April 22 AP Estimating AP-Estimating the Estimating the revenue yield at the ways was and means committee majority formally recommended its new tax bill to the house today as a means of correcting the gr greatest defect i in our present system of taxation The Republican minority already had called the rhe tax plan drafted on President Roosevelt's suggestion a vicious threat to the tIthe stability of business and andi employment The opposing views foretold the heated co controversy into which the page bill hill headed as leaders set aside tom tomorrow for opening debate The Democratic committee majority majority majority ma ma- filing its report on the bill said the new plan of taxing corporation corporation cor cor- net income with rates fIxed proportion of earnings earnings' undistributed would provide pro pro- vide the remedy for the major defect de de- de- de feet in the existing tax system by which surtaxes on on are avoided by impounding Income in incorporate corporate surpluses I C the proposed change in the method of cor incomes the report said were wore To prevent avoidance of surtax by Individuals through the accumulation tion of incomes by corporations to remove serious inequities and Inequalities in inequalities inequalities in- in equalities between corporate p partnership partnership part part- rt- rt and individual forms of ot I business business- organizations ns and to re remove remove remove re- re move the inequity and small shareholders resulting from front the present I flat corporate rates The report said the new c corporation corporation corpora corpora- tion tax system is lIis estimated to produce produce produce pro pro- duce an average of at least in n additional rial al revenue annually annually annu annu- ally when it comes into full fun operation opera opera- tion But tho the report showed that Instead instead In stead of producing temporarily tem tern over ver t the o ne next t three years as requested by Mr Roosevelt it would bring in only in its 1937 fiscal year Tho The committee said this would take mIte care of the presidents president's request until next ses session Ion of congress which can then act more Intelligently intelligently intelli Intelli- gently In tho the light of conditions then existing |