News Digest May 9-15


Even as his job-approval rating sank below 50%, Bill Clinton had one significant victory in Washington last week. Voting 24 to 14 along party lines, the House Ways and Means Committee approved a modified version of the President's plan to raise taxes $250 billion over five years, one of the largest tax increases ever. Clinton accepted a few changes -- chiefly the elimination of his investment tax credit and the reduction of his proposed increase in the tax on corporate earnings. His package, including an energy tax and higher income taxes for the rich, remained essentially intact. While the bill...

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