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Senate Passes Major Deficit-Reduction Tax and Spending Plan
Washington AP Senate moves into the second phase of deficit reduction by approving a tax bill and a spending package aimed at saving about 80 billion over two years. The package totals 605.9 billion for 1988 domestic and military spending, includes 9 billion in new taxes for 1988 and 14 billion for the following year, and targets Medicare, farm support, Veterans Administration loans, and Postal Service health benefits. The House has approved its versions. compromise bills must be sent to President Reagan.
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