On Capitol Hill, politics and deficits make strange bedfellows
The squabbles were ostensibly over the fiscal 1984 budget. But behind last week's skirmishes on Capitol Hill, Democrats and Republicans were in fact scurrying to stake out the political high ground for 1984.
House Speaker Tip O'Neill made the first move. He proposed, "on the grounds of fairness," a $700 ceiling on individual savings from the final 10% installment (taking effect July 1) of President Reagan's threeyear, 25% tax cut. Such a "tax cap" would generate only about $6 billion in federal revenue savings. But the...
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