Ogden Standard-Examiner | 1925-08-17 | Page 2 | Calvin Given Tax Figures

CALVIN GIVEN TAX FIGURES Mellon Smoot and Tilson I i Talk Reduction With President PLYMOUTH Vt VL Aug Au 1 it-CA' it i.- i. A FInal action on a a. tax reduction bill by t the house e by the Christmas I e or soon thereafter f r was promised President Coolidge today by bl Representative Tilson of Con Con- Connecticut who will be the Republican can floor leader In the next ses- ses cession sion Taking advantage ot of the vIsit hero of Secretary Mellon and Sen Sen- atom Smoot who Is of finance committee the dent went over the tax reduction program with the representative o of the house senate and treasury Secretary Mellon presented ten ten- tenta ta he estimates estimates' showing the ef Ct- on the tho treasury of certain re- re reductions and later laler Mr Tilson pre pee a a. cut In the surtax rate t ta to toa a maximum of 20 per cent or ever 15 per cent on the basis bals of tho th tl figures While Mr Ir Mellon presented no definite scheme of tax reduction S Smoot was of the same opinIon as Mr Tilson on the pros pros- prospect pert of II a heavy slash In the cur fiur- tax rates which have a a. maximum of 40 per cent now lie was not prepared to prom promise Iso decisive ac- ac action tIn tion by the tho senate but the con con- prence ference was hopeful If the house cleared the measure by the tho first i ot of the year ear that a a. but bill could be e enacted into law before March 1 16 when whon the first payments of the now new year are due Final statistics on the actual condition of the treasury at the tho close of the last fiscal year ear Juno 30 are arc not available but on the basIs bals of estimates Secretary Mel Mel- 1 ion 11 presented tables showing the effect which certain reductions would have on revenues lIe was firm In his stand that an lable cut In the surtax rates which apply on Incomes of and andover andover over would eventually bring In more revenue by Inducing capital f tom om the tax exempt fields