New Tariff Bill Outcomes Shake Rates and Free List
After months of debate the Underwood-Simmons tariff bill moves to reduce average duties from about 35 percent under the current law to roughly 27 percent, with concessions on wool, cotton, iron and steel, and agricultural items. The conference highlights include free lists for raw wool and bananas and a revised schedule for cellulose and fabric costs, with continued House influence in several key duties.
MENTIONED IN THIS ARTICLE
Congress
Democratic Party
Underwood
Senate
House
Conference Committee
Connecticut
Jeep
Ehdens
Polstald
Hua Bs
Wees Aseeeus
Reese
Ban de le AG
Aeemene Weber
Tdi
Moyes
Bross
Castile
Deywey
Saevavascesacae
Leneeries
Reepeness
Cbevereeeneuensnes
India
Plaster of
Shell
Ceos Es Daniensinas
Ateois Wccescneeon
C. F. Skane
Goa
Recco
Fuller's Earth
Features of the Income Tax Law and New Tariff Bill
The article outlines a new income tax plan with rates from 1 percent on incomes over 3000 up to 6 percent on income above 500000, plus exemptions and penalties for nonreporting. It defines taxable income, describes exemptions for married filers, and taxes on foreign residents with a 1913 start for collections and limits on taxing states and municipalities.
MENTIONED IN THIS ARTICLE
Internal Revenue
The
DUI
Lfe
United States
Progress of the New Tariff Bill Timeline
Chronological history of the Underwood-Simmons tariff bill from initial hearings in January through final conference adjustments in September. Key milestones include House passage on May 8, Senate referral June 20, Senate passage September 9, and conferees reaching final adjustment September 26.
MENTIONED IN THIS ARTICLE
House Ways and Means Committee
Underwood
Ways and Means Committee
House of Representatives
Yeas
Senate
Finance Committee
Senate Finance Committee
Simmons
House