TREASURY HAILS HOUSE TAX BILL, BUT ASKS CHANGES; An Alternative Approach to Mining Industry and Oil Operations Suggested EXEMPTION IS OPPOSED Stricter Treatment Sought to Prevent Companies From Escaping Levy Treasury Hails House Tax Bill But Calls for Several Revisions
Treas Sec Walker and Asst Sec Cohen hail HR com reform and relief bill but criticize some provisions as being too loose or too restrictive; will suggest alternate program for mining operations, specifically oil; imply Adm will seek higher taxes for mining indus; criticize provisions dealing with financial insts, urging changes be considered in conjunction with results of study being made of regulation of interest rates and investment powers; criticize hobby farming provision; explain special rates for wealthy; com formally orders bill reptd to HR