Show i COOliDGE Will URGE MATERIAl TAX TM REDUCTION A Decrease in Normal and Surtax Rates 9 Presidents President's Desire sire sw SWAMPSCOTT Al Mass July uly 7 UP The UP-The The general tax redu reduction policy to be recommended by President PresIdent President Pres Pres- ident Coolidge to the coming coming- session ses- ses session sea ses sion Sian of congress involving a marked decrease ase In both normal and Surtax surtax surtax sur sur- tax rates and the repeal of inheritance inheritance inheritance inherit inherit- ance taxes was announced today at the summer White House The spokesman for President Coolidge said the administration would recommend the the- surtax rate ate which treasury figures showed wo would ld produce the greatest revenue It was Indic Indicated teil this rate w was s expect ex- ex 1 to- to toran j ran rani e h te from from- fo 12 to to 25 per cen cent but but certainly not ot higher than the latter fig figure e rel Under the existing revenue bill bin surtaxes range from 1 p per r cent nt on onnet onnet onnet net incomes of to gradually upward t to a maximum of ot 40 per cent on net Incomes over over f fEYE EYE TO BUSINESS The pr president t was said to feel that the fundamental clement element inthe In Inthe I Ithe the administration tax reduction I program was the amount of revenue which could be drawn under the new bill bUl It was said the administration adminis adminis- ration would recommend any sur- sur ax x which seemed to meet this re requirement re- re ment so long as it jt Was not one ono so high that In any indirect way It affected business It was a 25 per cent surtax would be the maximum In Inthe Inthe Inthe the administrations administration's s bill and the highest surtax might bo be considerably considerably consider consider- r- r ably lower FIGURES INDEFINITE Definite treasury figures w a would permit the president to reach an exact decision on the normal and surtax rates he will recommend have not been received at mit the summer summer sum sum- mer White House but Mr Coolidge has mad made up his mind mindon on the gen- gen Continued on page 4 4 COOLIDGE WILL ASK NATIONAL T TAX REDUCTION Continued from page 1 eral outlines of the administrations administration's bill The presidents president's recommendations to congress this fall will probably crystallize along the lines of a slightly reduced normal tax a I surtaX sur sur- taX ax maximum of 8 t 25 per cent and ultimate or Immediate repeal of f federal d ral inheritance taxes |