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Senate votes on new tax bill and estate tax repeal
Senator Smoot reports the finance committee tax bill, likely to be debated soon. Treasury estimates show revenue losses from the bill totaling 352 million for 1926, with adjustments from estate tax repeal and other provisions. Senator Simmons proposes a modified sinking fund plan to wipe out the public debt in 26 years, shifting foreign debt payments to the fund and raising the domestic sinking fund to 3.5 percent.
MENTIONED IN THIS ARTICLE
Enator
Smoot
Senate Finance Committee
Senate
Treasury Department
Treasury
Finance Committee
House
Simmons
North Gardling