Show president agreed on mellon tax plan washington president collidge and secretary mellon ironed out the tax refund proposal of 0 the executive tuesday and agreed that it should be accomplished complis hed through a credit to the taxpayer of about 12 12 1 2 per cent on income taxes to be paid next neit year on this years income while thi the president was busy adjusting his tax saving plan with his secretary of the treasury congressional leaders were expressing varying views which indi sated clearly the plant did not meet with tull full approval at the capitol mr mellon accepted the proposal to take his surplus away irom from debt retirement but he convinced the president that the idea tor for an immediate refund of 0 income taxes collected this year would be too costly from an administrative istra tive standpoint |