Show SENATOR KING HAS TAX PLAN HILL TO BURDEN ON TO FAR lt washington fob 8 senator william IF king of rtuh believes that tax reduction should bo be carried to a point way beyond that proposed proponed by tho the secretary Boc rotary of fbi treasury tron sury and in fact beyond tho the V point int sug 0 bosted by tho the democratic me moni tubers bora of 0 the committee on waya ways and indans recently senator kine king introduced a bill which ito estimates will mako inako reductions aggregating and later when tho the tax bill 11 passes a tho the house and comes to thu the conate ho lie will propose additional ro duct luct lone ions which will bring tho the total reduction to about senator kings bill as such cannot now bo be considered in tho the son senate ate as revenue legislation must originate in tho the house but tho the king bill has been boort bont sent to representative garret loading leading tho the democratic agist in tho the house and ho lie has ling tho the senators sona torB proposal in hand senator kings bill restores the pro war personal pors onal exemptions of for unmarried persons and for married persons and ro bains tho the present exemptions of for each dependent pendent do tho the rato rate for tho the normal income tax Is reduced from 8 S to 3 per cent with tho the special provid provision lon that upon tho the first of income tho the rato rate for the normal tax shall bo be 2 per cent tho the surtax Is reduced to a maximum of 35 per cent ou on incomes of and more and la Is scaled back uniformly to 1 per cent on incomes of the bill also repeals the taxes on automobile trucks automobile tires and accessories telegram and telephone messages candy promissory notes deeds proxies powers of attorney leased wires cameras and lenses films flints and plates hunting knives dirk knives liol holders deri and ipes weighing machines li veries livery boots hats hunting garments metor towboats boats yachts carpets rugs va uses trunks suitcases purses pocketbooks ket books handbags fans lamps lamp shades sculptures paintings jewelry watches clocks theatres theartres the atres circuses entertainments exhibitions shooting 9 galleries riding academies automobiles for hire ana antl power boats |