Amendment to the Income Tax Rate

Senator Reed
Strike out all after the word “exceeds” in line 19, page 165, all of lines 20 and 21, page 165; and down to and including “100,000” in line 3, page 166, and insert in lieu thereof the following:“$10,000 and does not exceed $20,000; and 1 1-2 per centum per annum upon the amount by which the total net income exceeds $20,000 andbut does not exceed $650,000; and 2 per centum per annum upon the amount by which the total net income exceeds $30?000 but does not exceed $40,000; and 2 1–2 per centum per annum upon the amount by which the total net income exceeds $40,000 but does not exceed $50,000; and 3 per centum per annum upon the amount by which the total net income exceeds $50,000 but does not exceed $60,000; and 4 per centum per annum upon the amount by which the total net income exceeds$60,000 but does not exceed $70,000; and 5 per centum per annum upon the amount by which the total net income exceeds $70,000 but does not exceed $80,000; and 6 per cent per annum upon the amount by which the total net income exceeds $80,000 but does not exceed $90,000; and 7 per centum per annum upon the amount by which the total net income exceeds $90,000 but does not exceed $100,000; and 8 per centum per annum upon the amount by which the total net income exceeds$100,000.”