Show j I ON TO PERfECT L CORPOR CORPORATION liON TAX MEASURE T Taft aft Concedes Amendment Must Be Re Redrafted Redrafted drafted to Remove Constitutional Objections I Mr lr Wickersham at W Work rk i Washington July Taft and the law lawyers ers of his 1118 cabinet have undertaken to save tile the tariff conferees from rom haggling over oer the tho corP cor corporation tax amendment It Is con oon conceded ceded that the measure as passed h by tite senate must be redrafted in or orIler tier Iler to remove constitutional lions and nd to meet the views of the ad The President has told Lold the leaders or of the senate and ond house t that at as S the house administration Would bo be charged with the bully of collecting the tn tax and do doI I fending the tho act acL if assailed in hi the tho thoI courts time administration should Ibe be I permitted to perfect the measure Senator Aldrich and Representative Payne Parne have hae made mado no objection to the Bu made b by the tho President and andas andas I as a Attorney General Genera Wick Is working out the legal probe hems It involves If the I I 1 lax feature is changed at nfl ail after fler I being redrafted the alterations probably probably ably will be confined to the rate of oC tax lax on Oil net earnings There Thero Is a strong sentiment In congress that the tax should be not more than one per cent and It ma may b be cut In half accordingly Reluctance Is being exhibited thy b some members or of tile the house to the suggestion tl at the Inheritance ta feature adopted by that body shall be left out of the hilI 1111 President Taft has ha been by the arguments of the states that times the should not be disturbed In their use or of the inheritance tax as a means of raising of revenUes although is belief in the principle has hns not abated It Il Is stated upon the highest author authority ity however that he does not that federal and state slate governments should both resort to this method of raising revenues The Tho nt adopted Iby by the senate providing for tor the establish establishment nent ment of a customs likely to be accepted by the house conferees s An effort will be made to fix lix salaries of oC the judges at 10 OO as provi provided ed edI I originally by the amendment as report eti cd from Limo tho finance committee to the senate I The terms of time UIO senate maximum and minimum provision are meeting t I with sonic ome favor faor from the Ule house mem Ibers of the conference committee and time the Indications are arc that it will be ac accepted after some minor changes have havo been made madej madeI I If j time the has its Il way In relation I to time corporation tax inheritance and the lIe customs court there thera Is n a that It will Ibo ho at the tho sacrifice of many of its ils amendments to the I dutiable list The fhe conferees plunged into their Ja ha hors today Loday with wiLh a vigor Igor an and enthus enthusiasm that portends haste In getting II time tho bill back to the senate and the house raking up imp the schedule tho they through this and into the lie wood schedule luring during the morning hours This does docs not mean that the metal schedule was completed as It I contains mUlly important such stick ns as changing the rates on steel products which are l the 10 subject of sharp difference or of opinion These I were passed over to be taken talen up imp after minor amendments in nil all schedules havo been settled I The new draft of the corporation tax amendment for a tux tax of one mer cent instead of two to per cent centon I on the net of oC cor corporations This was sas decided t today at an am informal I conference at the White At Al torney General Wickersham will pro pre prepare pare tue tho amendment accordingly according I The President in Ills his talks with time tle conferees has begun the dIscus slon sien of specific rates The time for talk taUe as to Lo the application or of n a general I principle has passed In his opinion I The President is said mid to Lo feel that the withdrawal of time the corporation ta tax taxI I I lit favor of tho l nce tax adopt adopted ed cd b by time the house would be unfaIr LI LIa to toa a ol oC senators who simo supported the tax in preference to time income measure It was the Pros Pres PresIdent Ident who first suggested a graduated I amice 11 lax Such strong ton tIes to this measure In the states stales where an inheritance tax Lax ale ni ready Is levied that he brought Cor or orward ward lie tho corporation lax us IS the UlO next best hest means of wiping out the treasury It Is authoritatively declared that as to time the maximum and I President Is In Iii favor of the features of the hills It is considered to ho he loss Joss than hEm house provisIon which hM has I been In the senate senaLe a as retaliatory in Us Its nature whereas the tho thoI I senate provision Is an attempt toward reciprocal roe trade agreements In carrying out his plan of consult consultIng Ing the ilie tariff conferees the President cu Representative Fordner o of Uch Mich Michigan Uchi i igan an as a breakfast guest tOday At AtI luncheon ho he entertained and had a along ahong I long hong wIth Senator Aldrich Later In the tho dart clay to 0 talked with Senator BUrrows Speaker Cannon ws was at the tho WHilo House during he forenoon and I ProbablY will be a frequent caller un until until til tho tariff conference Is ended Saturday the President had a along long talk with Chairman Payne or of the tho I house on was wa and means President Taft has been Informed iy by the conferees probably I will be two weeks at theIr task |