Evening Republican, Volume 16, Number 179, Rensselaer, Jasper County, 27 July 1912 — Progressives and Democrats Unite To Pass Excise Tax Bill. [ARTICLE]

Progressives and Democrats Unite To Pass Excise Tax Bill.

By a coalition of the democratic and the progressive forces, the United States senate, by a vote of 36 to 18, passed the democratic excise tax bill Friday night. This bill extends the tax that is at present inflicted on corporations, to the business of individuals, private firms and co-partner-ships. This excise measure would levy upon all persons, firms or copartnerships an annual tax equal to one per cent of the net income in excess of $5,000. This tax does not apply to labor organizations, agricultural associations or fraternal organizations of an insurance character.

Attached to the measure also by the aid of republican votes, were amendments for the repeal of the Canadian reciprocity law and the fixing of a $2 per ton tariff on print paper, and for the establishment of a permanent non-partlaan tariff commission. '