| Show frt f a v d 1 ir y i t THE VERNAL RAIDERS sponsored by Bowden Oil participated participated par par- In the Women's Western Slope Invitational during the weekend Team members member's are front row left to right Aleen Barker Wanda Hobart Lonnie Edrington Ed Ed- rington Jeanne Smith Gerrie Buckalew second row Connie Cook Dodie Oldham Suzanne Storey Deanna McCurdy Shirley Neldon assistant coach Not present when picture was taken were Elden Buckalew coach and Linda Hullinger Rep Burtons Burton's Washington Report Tax Reform is Red-Hot Red Political Issue By Rep Laurence Leurence J. J Burton Ever since former Under Secretary of the Treasury Joseph W. W Barr warned warned warn warn- ed last year of a taxpayers revolt tax reform has been a red red hot hot political issue Word got around that in 1966 there were persons with adjusted gross incomes incomes in in- comes in excess of who paid no income tax Twenty-one Twenty of these had Incomes of over 1 million THE RESPONSE from outraged middle mid mid- dle income dle-income income Americans began to pour into Congressional offices and resulted in the approval this week August 7 by the House of Representatives of the most comprehensive tax reform bill since the Income tax went into effect in 1913 The Tho unprecedented speed with which this legislation legislation le le- was drafted and overwhelmingly overwhelmingly overwhelm overwhelm- approved by the House the vote was yeas to 30 nays demonstrates once again that when the people speak quick action is possible even on such highly technical subjects as tax reform The House Ways and Means Committee Commit Commit- tee embarked upon its massive task of trying to equalize the tax laws by examining examining ex ex- in detail the returns of those who had paid no income tax in 1966 to try to ascertain the reasons for their nontaxable status I. I Their analysis showed that in most cases the nontaxable status for this group arose from a combination of several several sev sev- eral factors the most important single one being itemized deductions which totaled over million or per cent of adjusted gross income THE PAGE tax reform bill passed by the House touches upon some 27 areas of tax reform and virtually makes sure that no individual with significant amounts of or income will be able to escape escape es es- cape payment of all tax Increasingly in recent years taxpayers ers with substantial incomes have found ways of gaining tax advantages through utilizing the many tax shelters that have crept into the tax code over the years Senator Long chairman of the Senate Finance Committee has said that one Congress' Congress loopholes are another Congress's Congress's Con Con- gress's reforms Be that as it may tax reform is necessary both to insure that those with substantially the same incomes incomes in in- comes are paying substantially the same tax and also to insure that the graduated graduated grad grad- income tax structure is working levels The House passed House passed bill would become effective in two stages stages stages-In in 1971 and 1972 and and would provide a tax cut of at least five per cent for all taxpayers with incomes under annually by 1972 It would remove million low low income income earners from all federal income tax obligations obligations obligations ob ob- and permit ten million taxpayers ers to use the simplified form instead of itemizing their deductions It would provide tax cuts for middle middle income income families families fam fam- earning between and and who deduct their expenses on tax forms THIS DOES not mean of course that there will not be some individuals now enjoying tax shelters who will not find their taxes increased because many so- so called loopholes have been closed And quite frankly I h am not In accord with all of the action actions of the Ways and Means Committee in this regard Traditionally however tax bills originate originate originate ori ori- in the House of Representatives and come to the floor under a closed rule which means that the whole package package pack pack- age must be voted up or down with no floor amendments permitted It is argued that this is necessary in order to avoid the legislative chaos that would result when considering complex highly highly high high- ly technical bills should hundreds of amendments be offered by the members members mem memo bers of the house THE SENATE has no such qualms however and the passed House tax bill has not gone to that body where it will undergo heated debate both in the Finance Finance Fi Fi- nance Committee and on the Senate floor The Senates Senate's rules permit unlimited ed debate and the danger is that the legislation will be so saddled with amendments by that body as to become quite unmanageable The real statesmanship will come therefore when the committee of conferees con con- composed composed of of the senior members members mem memo bers of the Ways and Means and the Finance Committees meet in executive executive ex ex- session to resolve the differences in the House and Senate Senate passed passed bills Chairman Mills is hopeful that this willbe wIllbe will willbe be accomplished and the final language of the tax reform bill agreed upon by October 31 THE OPPORTUNITY for a broad review review re reo view of the tax system comes rarely and certainly this will be one of the landmark pieces of legislation of this decade The Ways and Means Committee has published a Summary List and Brief Description of Provisions contained in inthe inthe inthe the House passed passed Tax Reform Act of 1969 I I will be glad to send copies of this pamphlet to those requesting it as long as my limited supply lasts |
