AllPolitics E-Wire -- June 30, 1997
A weekly briefing on U.S. politics:
Congress Passes Tax-Cutting Plans
Before escaping Washington, D.C., for its week-long Fourth of July recess, Congress completed work toward realizing the balanced budget agreement worked out with the White House last month. The House and Senate passed similar bills that would provide that biggest package of tax cuts in 16 years. Companion legislation setting out budget savings passed both chambers earlier last week. Supporters say together the two measures will balance the budget by the year 2002.
But Is There A Better Way? Clinton Thinks So
This morning, President Bill Clinton offered his own package of proposed tax cuts, saying that the Republican-crafted versions approved last week fall short in offering education and training incentives for middle-class families. Like the congressional proposals, the president's alternative provides a net tax cut of $85 billion over five years, but tilts more strongly toward middle- and lower-income families while offering less capital gains tax relief to investors.
When Congress returns from vacation next week, Senate and House leaders will begin negotiations toward a final tax package, and Clinton wants his ideas considered in that process.
Missing The July 4th Deadline
The president has criticized Congress for ignoring his calls for action on campaign finance reform legislation by July 4, and said he would take steps of his own to push reform. Critics suggest that the White House is trying to change the subject from 1996 Democratic campaign abuses, which will take the center stage beginning July 8 when Senate hearings on those issues get underway.
Check in with AllPolitics for comprehensive coverage of the hearings, from start to finish.
Quote Of The Week
"I saw the fight and until [the biting] it was a good fight. And I was horrified by it, and I think the American people are. I don't know what the federal role should be. I have not given any thought to that whatever. But as a fan, I was horrified." -- President Clinton, describing his personal reaction to the ear-chomping incident during the Holyfield-Tyson fight.
Independence Day Tidbits
While you're sitting around the picnic table or watching fireworks, here's some trivia to share with friends: Three U.S. presidents passed away on America's birthday. John Adams and Thomas Jefferson both died in 1826, the 50th anniversary of the signing of the Declaration of Independence. James Monroe passed away five years later.
Calvin Coolidge is the only president who could claim the American holiday as his birthdate. And who wasn't "born on the fourth of July?" George Cohan, the composer of that patriotic tune, "Yankee Doodle Dandy." Despite his song's famous line, Cohan was actually born on the third of July.
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