State aid splits on Senate tax cut efforts
Senate leaders remain divided over including state aid in the $350 billion tax cut plan. Frist backs some aid but rejects the $20 billion level sought by advocates. Collins and Snowe press for fiscal relief to states while Grassley’s dividend tax plan draws opposition. The bill’s fate hinges on budget limits and revenue offsets as debate resumes Thursday.
MENTIONED IN THIS ARTICLE
Washington
Senate
Bill Frist
Frist
R-Tenn
House
White House
Ari Fleischer
Congress
Maine
Susan Collins
Collins
Olympia Snowe
GOP
Senate Finance Committee
Charles Grassley
Rtowa
Otal
Showe
Grassley
Snowe
Federal bid system hurts small business
Federal investigators fault the contracting system for favoring large firms. GAO testifies that small business awards are miscounted, with databases listing non qualifying firms as small. Five large contractors received over 1.1 billion in FY2001, of which 460 million counted as small awards.
MENTIONED IN THIS ARTICLE
Washington
Federal
Congressional
General Accounting Office
GAO
House Small Business Committee
Congress’ Investigative Agency
David Cooper
Donald Manzullo
R-Nl
Committee
Small Business Administration
SBA
Sue Hensley
Lloyd Chapman
Ransec Pista Anes
Microcomputer Industry Suppliers Association
Chapman
Fed Holds Rates as Deflation Fears Grow
The Federal Reserve kept rates steady at a policy meeting but opened the door to a June cut amid worries the postwar economy may fail to rebound. Analysts say a rate reduction could come next month with potential further moves in August as deflation threats loom, while Japan’s prolonged slump underscores global risks.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Alan Greenspan
Federal Open Market Committee
United States
Sung Won Sohn
Wells Fargo
Fed
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