Show Senate Group Opposes New Corporation Tax T ax WASHINGTON Aug 27 AP The AP-The The senate finance committee committee committee com com- voted Wednesday to ease ease slightly the projected new taxes on corporations On n a vote which Senator B Byrd r D. D Ya Va said d was P. P decided to decided to 2 to 1 the group eliminate a special 10 per cent tax which the house had applied to the profits of corporations exempt from the excess profits tax The committee action reduced es estimated estimated estimated es- es revenue from the bill by to Opponents of the special 10 per percent percent percent cent levy have contended that it together with normal corporation taxes would place too heavy a burden burden burden bur bur- den on companies having too little income to fall within the schedule of excess profits taxes Senator Thomas D. D Utah predicted predicted predicted pre pre- that the committee would reconsider and possibly reverse the vote by which it rejected an amendment amendment amendment amend amend- ment to the 1941 revenue bill providing providing providing pro pro- viding for exemption of strategic metal producers from the excise profits tax The vote Tuesday on the amendment amendment amendment amend amend- ment offered by Senator McCarran McCar- McCar ran D. D Nev was 10 to 7 with four absent Although I am not a member of the senate finance committee I am working to secure reconsideration of the vote and I think that there is a good chance of reversing it said Thomas Not only the mining states of the west are involved in this issue it it Is a matter of concern concern t to jo the entire defense program we must have strategic metals and nothing should be done to hamper their location and development |