Show E. E PRESIDENT SIGNS TAX CUT MEASURE MAN WITH SMALL INCOME IS GIVEN LIFT BY flY PASSAGE OF BILL Belief It Represents Represent An Improvement Over Preterit Present Law Is Is' Given As AI 0 rn For Signature of President Coolidge Washington The Tho The tax tax ax reduction bill was signed by President Coolid- Coolid jr gem I Monday Althou Although h the legislation on docs does not hot ot accord with his stand for the Mellon Mellon Mel Mel- lon ion plan the president affixed hI his signature because he believes it represents rep rep- resents an improvement over the existing ex ex- law It reduces the levy of federal government gov gov- emment on almost every taxpayer arid and ml especially benefits the man or with a small taxable income Tho The effect of the measure Is immediate im immediate im mediate in that it reduces by 25 25 perCent percent per pet Cent rent taxes on last years year's incomes payable this years More than a 8 score ecore of excise and miscellaneous taxes are repealed within thirty days day and the new scale Cale of incomes ana surtaxes affects incomes and reven revenues ues M dating from last January 1 1 President Coolidge believes an effect ef or on business would be notice noticed Within a few weeks not only because 1 of f the reductions provided but also because of the removal of the uncertainty uncertainty un un- un certainty which has bas existed in business bus busi ness ricas since Ince discussion of tax reduction reduction tion began nearly eight months ago |