Show Hou House eU Unit n it New T Tax ax Cut Bill w WASHINGTON July 3 UR The iP-The The I new Republican backed bill to cut I Income taxes annually annually annually an an- was approved 18 to 6 Thursday Thurs Thurs- day by the ho house sel ways and means committee j yA A shift of ef Democratic v votes tes in favor of f the measure br brought Immediate immediate immediate im im- Im- Im mediate predictions that the house and senate could override another presidential veto The bill is identical with the measure vetoed by President Trum Tru- Tru m m June Jupe 16 except that five tive date of ot the proposed tax reduction reduction tion don is changed from J July ly 1 1947 to Jan 1 1948 Speaker Martin R. R Mass set seta a n. new house showdown vote on the measure measure for lor next Tuesday I Ways and arid Means Chairman Knutson R. R Minn Nina author of the thel l legislation said that under the tax- tax cutting bill federal revenues in the fiscal year starting Wednesday would be enough enough t to pay at least on the national debt The committee action came Inthe Inthe in the tho face Ince of ot Democratic predictions ns that another veto awaits the measure measure meas meas- ure which would reduce Income levies for tor taxpayers by from 10 to 30 per cent depending on income level When the ways and means com com- reported the first tax cutting cutting cutting cut cut- ting bill several months ago th the vote vot w was s 16 to 9 wi with h on only y on one Democrat joining the Republicans Republican in support of orthe the legislation With the effective date changed to next Jan 1 three Demo Democrats Democrat rats joined 15 Republicans in support o othe of th the legislation Thursday Six Democrats Democrats Dem Dern- ocr ts voted against i i i. Chairman n Taft Tift CO 0 01 ot of the senate senat Republican policy polley committee told reporters the senate will take up the tax le legislation immediately after l a pending measure for tor unification unification unification cation of the armed forces |