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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Oct 10, 1990
Page
12
News items from Aiken South Carolina dated Wednesday October 10 1990 cover local notices and brief reports including community happenings and municipal items. Residents and officials are referenced in concise local summaries.
South Carolina lawmakers largely backed a continuing resolution to keep government offices open until October 19. Senator Fritz Hollings was in his Capitol Hill office when the voice vote occurred, delaying his stance on the bill amid House budget clashes and voter concerns over gas taxes and Medicare.
Rep. Derrick says he is unsure if enough votes exist to override a presidential veto on a textile and apparel import limit of one percent of annual growth. Rep. Patterson notes caucus strategy to swap votes with Midwest and Southern lawmakers, tying textile gains to protection of farm subsidies. The $40 billion budget deal aims to cut farm price supports, with $13.6 billion in five years at stake.
Bush signals willingness to raise taxes on the rich to win a capital gains cut. Packwood recalls every GOP member agreeing to no deal on rates, while Bentsen's plan would set a top capital gains rate at 23.1 percent for the wealthiest, paired with a 33 percent top income tax and a higher minimum tax to ensure minimum payments. Lawmakers anticipate dropping heated provisions like a two cent heating oil levy and unemployment benefit delays as deficit talks proceed.
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