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Reagan Republicans strike budget deal raising taxes and Social Security cuts
President Reagan and Senate Republicans sealed a budget accord calling for 95 billion dollars in general tax increases over three years and 40 billion in Social Security changes. The Budget Committee approved 11 to 9 with all yes votes from Republicans, Democrats opposing the Social Security portion. The plan envisions 105 billion deficit in 1983 and 42 billion in 1985, with changes to spending and defense buildup.
MENTIONED IN THIS ARTICLE
Associated Press
Washington
Reagan
Senate
Pete V. Domenici
R-N.m
Senate Budget Committee
Administration
Senate Gop
Thomas P. O’neill
D-Mass
Budget Committee
Domenici
Howard Baker
White House
James A. Baker III
David A. Stockman