A Less Than Perfect 10-10-10

Congress and the White House try to forge a tax compromise

Congress and the White House try to forge a tax compromise

On one side was President Reagan, eager to hold to his campaign pledge to cut personal income taxes across the board by 10% in each of the next three years, the so-called "10-10-10" proposal. On the other was House Ways and Means Committee Chairman Dan Rostenkowski and his fellow congressional Democrats, who favor a smaller tax cut offered for one year at a time. Like proud and coquettish students at a prom, each has been eyeing the other, hoping for an invitation to dance. Last week, with congressional Republicans acting as...

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