Show ii INCREASES ING EASES I iI O OP OPPOSED P. P p D iJ ED EDIN IN r I Jr t. t 1 00 HD HOUSES HOUSE U Sf J Leaders Demand Reduction S a ler ro of f in Lei LeiS Levies S I for Nations Nation's a ion s Revenue RevenueS Revenue'S S 'S Aug G. 5 Opposition 1 to many y new forms o 0 of taxation proposed pro pro- Io posed d by Secretary of t the tho o Treasury Mellon lellon 1 continued to grow toda today among house hse leaders They planned to to continue con con- S o their tIght fight to reduce tho the nations nation's i bill bUl b by I In a lem statement nt published however cr Representative Mondell of or Wyoming tho Republican leader lender declares that In his Judgment It Is Js entirely practical nl to reduce the total tax levy ley by and still take toke care of tho the essential nc needs as of the government I Representative Mondell also came caine out out S flatly against any Increased postage post post- age Dge and nd bank check tax The Republican can An leader also has hasl haslid said id ho he doubted lo either ether the n necessity or tho the advisability of the Ithe automobile lev levy Ho He declared for repeal of at the tho transportation and soda eoda water taxes the excess profits tax and the higher income surtaxes with additional revenues provided I through h a I 6 per per cent Increase In the corporation Income tax OUTLAY OUTLAY ESTIMATED in In estimating the outlay this year at Secretary Mellon said account had been boen taken of the latest Information from tho the spending spending- tl departments departments depart depart- ments of ot tho the government as to their actual cash expenditures for tor the year of ot cuts In expenditures already reported report report- ed to o tho treasury and of ot annual ap appropriatIons appropriations ap- ap for tor this year already made by byr congress b Ordinary expenditures were vere placed lit at at with an additional I public debt expenditure I fixed by law Tho The ordinary outgo In Included In- In eluded for payments to the on account of ot the transportation transportation transportation tation act and federal control but it was riM explained that no allowance had been made for or possible cash expendi expenditures tu tures tures' es resulting from withdrawals b by bythe bythe lh the war finance corporation which has hasIL IL B. credit balance balanco of or about with frith tho the treasury and may draw down Its balance at least temporarily In son son- connection con con- nc with the railroad financing S proposed under pending legislation SHRINKAGE FORECAST S On the basis of or the existing revenue law Mr Mellon figured that the exCess ex- ex x- x Cess of ot expenditures over oyer receipts I would be His estimate of total receipts was as based on tho the present law aw or approximately one and a quarter billion dollars dollars dol dol- lars tars less Jess than received last year A Aurther further urther shrinkage of ot returns next year was Vas forecast even on the basis of ot a n. law revised to meet treasury Calculating on ozi on the basis of ot the proposed proposed proposed pro pro- posed revision of tho tho corporation In ln Income Income In- In come and excess profits tax being made effective as of last January 1 1 i the secretary eLan- eLan estimated rec receipts for S this fiscal year yeat from Internal taxes at 3 Including from individual Incomes from corporation Incomes and from profits taxes Back taxes Income and profits would profits would account for of the total and the remaining would come corne fr from miscellaneous taxes BASED ON CHANGES On a basis bluds of the revision re of the ex excess excess ex- ex cess eess profits and corporation Income taxes becoming effective as of next January 1 corporation income tax was estimated at and excess profits ta tax at making the tho total yield from revenue the estimates being made on the as assumption assumption RI- RI of other changes in the law lawIn lawIn lawin in line Une with suggestions presented to the ways was and means committee last Monday Monda but not including the cent 1 Increase on first class mail maU estimated to yield about annually and tho the c 2 2 cent nt t tax x- x on on c each h hank blink check e estimated to return an an- an I Revisions on on which the estimates I Were based It was explained assumed the following changes Increase In the tho corporation Income tax to 15 5 per cent as of January 1 1921 1921 or January 1 1 1922 and the re repeal repeal re- re p peal ll of the 2000 exemption Repeal of ot the excess profits tax as of January 1 I 1921 or January 1 1 1922 5 I S Increased collections of ot back Income and nd profit t taxes p I pAn An increase on the tax on cigarettes and nd smoking and arid chewing tobacco Repeal of the transportation act ad on freight and passengers the tho tax tu to be reduced one half January 1 1 1922 and repealed Jan January ary 1 I 1923 w d A An increase of ot tho documentary stamp taxes by approximately d dou doubling u- u bling bUng the tho tho present rates to yield an additional The Tho license tax on motor vehicles chicles averaging about 10 0 apiece and to be graded according to to pow power r. r Repeal of the tn ta on Ice lee cream and fountain drinks as of January 1 1922 Revision Ro of the tho Income tax rates with a maximum surtax rate rato reduced to 32 per cent Repeal of or the so 80 called luxury taxes on wearing apparel carpets rugs trunks valises and the tho like r 1 i. i o. o |