Word: smoot
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Dates: during 1920-1929
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...Consideration of the Administration tax bill. There are clear indications that the " regular" Republicans will back the plan and make it the basis of their campaign in 1924. Representative William R. Green, Chairman of the Ways and Means Committee, and Senator Reed Smoot, Chairman of the Finance Committee, will nurse the bill in their committees. The great problem for the Administration will be on the floors of both Houses. In the Senate the Republicans hold 51 out of 96 seats. In the House the Republicans have 225 out of 435 seats. But seven Republican Senators are La Follette insurgents...
...Treasury, took the future by the forelock. It is a settled question that the next Congress will have the choice either of giving the soldiers a bonus or of reducing taxation. The progressives in Congress are militantly for a bonus. Many of the conservatives, including Senator Reed Smoot, Chairman of the Senate Finance Committee, without advocating the bonus, regard it as a certainty. Not so, Secretary Mellon...
...Senator Smoot's argument: The Government will have a surplus of $500,000,000 this year. Taxes ought to be reduced by exempting all incomes of $3,000 and less; scaling off $100,000,000 of taxes on incomes from $3,000 to $6,000; scaling off $100,000,000 of taxes on incomes from $6,000 to $10,000; reduction of maximum surtaxes to 331/3%; abolition of the "nuisance" taxes on candy, jewelry...
...they send out on the floors of the Senate and House bills of the Administration, the radicals and Democrats can amend and alter them to their hearts' content. The result would be bad for the Republican Party and unsettling to business. "For expediency's sake,," say Messrs. Smoot and Green, " we ought not to try to do what we ought...
...just around the corner ever lurks the soldier bonus. "As sure as God lives and the sun rises in the morning," Senator Smoot has said, "the bonus will be passed." If so, discussion of tax reduction is sweet futility...