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Show R0OSEHHJ LIMITS MM ill COST 4 ... President Asks Spending Be Held Within Income; Tax Action Faces Delay 2 to 4 Weeks Will Be Needed to Draft Measure WASHINGTON, Nov. 17 (I'P) There will be as tax revision during the special session of eon-gresa. eon-gresa. Senator Albea W. Barkley, Drmocratie majority leader, said flatly today after a survey of the legislative altiiaUoa with President Presi-dent Roosevelt WASHINGTON, Nov. 27 (UP) The possibzility of a revision of taxes to aid business at the special session of congress con-gress was virtually blocked by technical difficulties today. Althongh President Roosevelt has announced he wanted aetloa on the proposed revision as sooa as cveeee was ready, the houee ways at J means tax subcommittee subcommit-tee learned that frem two ta four weeks would be necessary to draft a bill, even If all the details were agreed oa by nightfall. Members of the tax group believe that they have made swift progress in their three-week study of general gen-eral tax revision, but they are still far from finished. This difficulty, coupled with others in the way of immediate revision, seemed to preclude pre-clude action before Christmas. Only four weeks remsin and both houses of congress promise to spend all of i next week debating farm legislation. legisla-tion. The sehste returns Monday to continue debate on an agricultural bill designed to glvs the farmer parity payments on his major crops. Boms Democrats were expected ex-pected to participate in aggressive questioning of sponsors of ths cotton cot-ton provisions. Ths bill faces a virtually vir-tually united Republican opposition. On Monday ths house will begin three days of general debate on its own farm bill. Three additional days for consideration of amendments had been scheduled. Meanwhile two messsges will corns from President Roosevelt On Monday the president will recommend recom-mend amendments to the housing act designed to stimulate construction. construc-tion. On Tuesday he plsns to send up a messsge advising changes in the highway aid law to permit drastic dras-tic curtailment of federal spending for this Item. The president completed the messages mes-sages todsy and prepared to leave tonight for a fishing trip off the coast of Florida. I Mr. Roosevelt also hss sent to the; senate the nomination of the tax group's chairman. Representative! Fred M. Vinson D, Ky.), as a jus-tics jus-tics of the District of Columbia court of appeals. Removal of Vinson, Vin-son, outstanding expert of the ways and means committee on the complicated com-plicated subject of taxation, would , delsy preparation of the tax bill. Vinson himself refused to comment com-ment on the nomination, but his as- , sociates believed he would not re-ign re-ign from ths house until the bill ( is resdy. , In addition to the task of draft- ( (ConltTMMd on Pas Twel (Column Stvrnl 1 DELAY IS SEEN ON TAXACTION Continued from Ptft Ont ) ing a tax law, congressional leaders have this reason for delay: The tentative agreements already made to alter the undistributed profits and capita gains and losses taxes will mean a net loss to the treasury of $60,000,000 annually. Treasury experts ex-perts estimate this -amount will be lost from individual income taxes due to the proposed easing of pressure pres-sure on the declaration of corporate dividends. More Difficult Leaders know it will be far more difficult to pass reductions now and seek support later for increases elsewhere than to put all the changes in one bill. Furthermore, the increases will have to take care of the added cost of whatever farm legislation is finally enacted an undesignated amount, with $200,-000.000 $200,-000.000 to S300.000.000 mentioned informally. in-formally. The senate-approved wage-hour measure. No. 2 item on Mr. Roosevelt's Roose-velt's program, needed less than two score names on a petition to bring it up for house consideration! this session but only a week re-1 mained In which to get the names.) |