19 Feb 1981
Page 1
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 19, 1981
Page
1
A collage of brief items from entertainment and public life. The column cites TV ads, a theater production in Dubuque, a health department personnel issue, a motor vehicle courthouse reform proposal, and political rumor about presidential fanfare.
President Reagan and top aides advocate a multibillion-dollar mix of tax cuts and spending reductions to Congress. Treasury Secretary Regan and Budget Director Stockman press for fast action while Democrats resist size and scope. He aims for a three-year nearly 30 percent income tax cut and accelerated business write-offs to spur growth.
Iowa senators Roger Jepsen and Charles Grassley praised the president's economic blueprint while Rep. Neal Smith urged deeper business tax cuts. Other House members debated dairy supports, spending cuts, and inflation remedies, with Tom Harkin signaling cautious support and targeted changes.
The Postal Rate Commission approved an 18 cent rate for the first ounce of a first class letter and 17 cents per ounce after that, with other classes rising modestly. The decision lowers projected annual revenue shortfall to about $1 billion and expands business mailer discounts for presorting.
President Reagan's proposed 1981 budget includes cuts of 4.4 billion and 1982 program cuts totaling 41.4 billion plus offsetting defense increases of 4.3 billion. The plan projects 695.5 billion in spending and 650.5 billion in revenues, with a 45 billion deficit and no balance before 1984. It also outlines tax cuts for individuals and businesses to spur investment, costing the Treasury billions in 1981 and 1982.
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