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Show - PHESIDENT SIGHS TAX GUT MEASURE MAN WITH SMALL INCOME IS GIVEN LIFT BY PASSAGE OK BILL Belief It Represents An Improvement! Over Present Law Is Given As j Reason For Signature of President Coolidge j Washington. The tax reduction bill was signed by President Coolidge, Coolid-ge, Monday. Although the legislation does not accord with his stand for the Mel-Ion Mel-Ion plan, the president affixed his signature because he believes it rep resents an improvement over the existing ex-isting law. It reduces the levy of federal government gov-ernment on almost every taxpayer and especially benefits the man or woman with a small taxable income. The effect of the measure is immediate im-mediate in that it reduces by 25 per cent taxes on last year's incomes payable this years. More than a score of excise and miscellaneous taxes are repealed within thirty days and the new stale of incomes ano surtaxes affects incomes and revenues reven-ues dating from last January 1. President Coolidge believes an effect ef-fect on business would be noticed within a few weeks, not only because af the reductions' provided, but also because of the removal of the uncertainty un-certainty which has existed in busl-. busl-. ness since discussion of tax reduction reduc-tion began nearly eight months ago. |