Show Senate Limit Oil an Taxes Cut Cui Bill WASHINGTON March 19 UP- UP AThe The The- senate Friday approved the Idea of holding a a. proposed income t tax X cut to A final vote ma 1 me by nightfall The passed house bill calls for a acul acut cut cul of 6 The senate finance committee has rec recommended recommend ed that 1 be trimmed fr from m the house t total tal The sen senate t recommendation recommendation by vote voice-vote adoption of the first of a of amendmentS amendments amendments amend amend- ments proposed by the writing tax-writing finance group The com committees committee's bill set the tax cut figure at 4 H- Also by voice vote the senate approved I a committee amendment to make the proposed new withholding withholding withholding with with- holding tax rates effective May 1 rather rather- than April 1 I. I as provided in the house measure The tax tac cut it would b be effective effective effective ef ef- ef- ef as of last J Jan n. n 1 under both the senate and house bills There is provision for refunds e in case too much money has been with with- held The sen senate rejected 67 to 13 a proposal by Sen McCarran CD D. D Nev to remove th 1 1 15 excise tax on rall raIl rall fir r lr bp other bus I transportation tion rate rates rates- This This- taXi ts is estimated d' d to bring in of of revenue yc yearly Chairman hairm n Millikin R. R Cob Colo of th the finance committee agreed d the tr transportation tax should l re- re moved But he said revision ri of excise levies should b be h handled s separately and should e taken up piecemeal He expressed hope something can be done on these later Two more Democratic senators OConnor O'Connor Md and Johnston I S. S C C. announced they will vIll vote for passage of the Republican- Republican sponsored tax-cutting tax bill Johnston Johnston Jonnston John Jonn- ston also said that he will vill vote to override if President Truman vetoes the measure |