Jasper County Democrat, Volume 20, Number 23, Rensselaer, Jasper County, 16 June 1917 — CUT WAR TAX BILL $9,000,000 [ARTICLE]

CUT WAR TAX BILL $9,000,000

Senate Body Takes Tariff Off Athletic Goods. Washington, June 15. —The house war tax bill was decreased about $9?000,000 more when the senate finance committee decided to reduce the manufacturer’s tax on athletic goods, patent medicines, perfumeries and cosmetics from 5 to 2 per cent. Rates on distilled spirits, malt liquors, wines and soft drinks, raising an aggregate of about $166,000,000, were approved virtually as drafted by the house. The committee-also ratified its former tentative approval of amendments by Senator Gore of Oklahoma placing prohibitory taxes upon cereals used in manufacturing distilled spirits foe beverage purposes and prohibiting importation of such beverages. Reduction of the tax on patent medicines involves a revenue loss of more than $5:000,000 and at the new rate of 2 per cent will include about $3,400,000 instead of $8,500,000. The reduction in the rate on athletic goods will reduce prospective revenues from that .source from $2,000,000 to SBOO,OOO. ’