Voting the Bankers' Way

It was a testament to the strength of postal politics. Besieged by a 22 million-piece mail campaign orchestrated by the nation's banking industry, the House last week voted by an overwhelming 382 to 41 to repeal the withholding for taxes of 10% of income from stock dividends and bank interest. Said Illinois Democrat Dan Rostenkowski, who as chairman of the Ways and Means Committee had reluctantly brought the repeal measure to a floor vote after a majority of the House demanded it: "Today we are conceding control of the tax system to a special...

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