Treasury aide suggests retention of undistributed profits tax. Washington, D.C., March 22. Appearing before the Senate Finance Committee today, Undersecretary of the Treasury Roswell Magill suggested retention of the undistributed profits tax in the new revenue bill and strongly recommend elimination of tax exemption for government securities. At the same time he informed the committee of the treasury's views on the tax revision bill, designed to provide $5,330,000,000 in federal revenue. Magill is pictured talking to Senator Pat Harrison, Chairman of the Committee; and Senator Arthur M. Vandenberg, Republican member of the committee