OCR Text |
Show Tax Reduction Bill in Sight Washington Evidence that the Democrats are getting ready for a smashhing tax reduction fight at the approaching short session of congress was given Thursday when the ranking Democratic members of tke senate and house committees which shape tax bills agreed on a basic plan of action. Out of a meeting between Senator Sen-ator Furuifold Simmons of the senate finance committee and Representative Jorn Garner of the house ways and means committee came a concrete proposal for a permanent tax reduue-tion reduue-tion of $325,000,000, which may be increased in-creased to $400,000,000. It would curtail cur-tail the corporation income tax from 13Vj per cerjt to 1 per cent, or even less; would wipe out the excise taxes and perhaps slig-lidy modify the tobacco to-bacco tax and lower the surtax on incomes in-comes between $30,000 and $90,000. |