Show I FA FAST T WORK URGED ON TAX UTAH SENATOR SETS FEBRUARY Y TENTH AS DATE FOR PASSAGE PASSAGE PASS PASS- AGE OF NEW BILL Declares Levy On Corporate E Earnings and on Dividends up to Limit DeFends DeFends De- De Fends Saving on the Larger I Incomes n Comes Washington Opening Opening senate senate- debate debate de de- bate on the tax reduction bill Chairman Chairman Chairman Chair Chair- man Smoot of oC the finance committee In charge of the measure set February February February ary 10 as ns the date for final passage If tax reduction is to be assured b by March 15 when first Income tax installments installments in in- are due Senator Smoot said ample time timo should be given for debate but warned warned warned warn warn- ed that after passage of the measure by b- the senate the bill must be sent sont to conference for adjustment of or differences differences differences dif dif- dif dif- between the house and senale senale senate sen- sen ale ate with a further delay while new income income income in in- come blanks must be printed The committee chairman discussed principally the tax reduction points of the bill particularly those provisions I Ib by b- which committee under a compromise com corn I promise promis e agreement en t of Republicans and Democrats increased the amount i iol of ol total reduction of provided provided pro pro- vided by tho the house bill of Reduction In the income taxes provided provided pro pro- vided by the measure would amount to this year Mr Smoot said which he divided as follows Incomes incomes incomes in in- comes of less than I incomes of to incomes in excess of Anticipating attacks on the grounds that the new rates gave too much reduction on incomes over by bya a slash in the maximum surtax rate from Crom 40 to 20 per POl cent and not enough on Incomes between and Senator Smoot declared the principle of sound economics was involved which looked further than to the Interest of any individual or group |