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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Aug 23, 1982
Page
5
The Dow fell 3.13 to 866.15 as early trading showed mixed results on the NYSE. Banks cut prime rate to 13 percent from 14, while traders weighed possible Fed rate moves and a tax bill impact on the market.
Reagan backs a $98.3 billion tax package described by supporters as reform and by critics as a tax hike. Democrats and moderates in Congress break with the conservative Boll Weevil coalition to pass the measure, aiming to curb Reaganomics’ high interest rates and deficits.
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