Clinton economic package aims for short and long term deficit trims
President Clinton plans a two part program anchored by a short term stimulus totaling 31 billion with tax breaks for business purchases and increased highway and bridge spending plus job retraining and extended unemployment benefits. The long term effort targets energy tax increases Social Security benefits taxation limits higher income taxes and defense and civilian workforce cuts with overall four year savings around 34 billion.
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Clinton weighs broad energy tax across all Americans
President Clinton signals moving toward a sweeping energy levy that would raise costs for electricity heating oil and gasoline. The plan would tax energy by fuel required to produce heat with the heaviest impact on coal heating oil and natural gas. It would touch virtually every American and faces GOP resistance in Congress with details about rates exemptions and credits still unclear. Analysts estimate a wide 0.5 cent per million Btu tax could raise billions in revenue.
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Clinton keeps Valentine plans quiet after morning jog
President Clinton promoted American Heart Month with a two mile run at Hains Point and signed a national proclamation. He accompanied Hillary Clinton to church and hinted at a Valentine dinner while declining to reveal gifts, as questions about a Monday speech and Wednesday economic plan went unanswered.
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Budget ax could carve commissions
Washington faces a push to prune 700 federal advisory panels that guide policy. Clinton aims to reduce at least a third, arguing many exist without decisive action. some panels are high profile like the President’s Council on Physical Fitness, others are obscure such as the FDA Tea Experts. Agencies say some work is vital, while critics warn many commissions merely substitute for Congress and the president. Total cost nears 150 million annually as new committees appear and others end.
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