Word: smoots
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...Senator Smoot, who is due to inherit the Chairmanship of the Senate Finance Committee, went about Washington conferring with the President and Secretary Mellon. The President declined to commit himself. Secretary Mellon wants to reduce income surtaxes and wants the Administration to sponsor a tax bill for that purpose in the next Congress. Senator Smoot agrees that taxes should be reduced but is opposed to any attempt by the Administration in that direction during the following Congress...
...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...
...Joint Committee consists of Chairman Walter Folger Brown, lawyer, of Toledo, who represents the President; Senator Smoot of Utah (Republican), Senator Wadsworth of New York (Republican), Senator Harrison of Mississippi (Democrat), Representative Temple of Pennsylvania (Republican), Representative Moore of Virginia (Democrat), and one vacancy caused by the resignation of Representative J. Stanley Webster of Washington (Republican...
...Congress stood next in seniority to Joseph Warren Fordney on the all-powerful Ways and Means Committee. With Mr. Fordney's Congressional demise, Mr. Green will become Chairman of that Committee. If a new revenue bill should be passed in the next Congress it will be a Green-Smoot, instead of a Fordney-Mc Cumber, bill...