Word: bentsen
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...failure of the assault led to criticisms that ATF had fatally underestimated its adversary -- or overestimated its own capabilities in a bid for the media spotlight. Treasury Secretary Lloyd Bentsen, whose department includes the bureau, promised a full inquiry. ATF officials claim that the raid failed largely because Koresh was tipped off. About 45 minutes before the shooting began, an agent who had infiltrated the cult's worship services saw Koresh get a phone call that he believes warned him that attackers were on their...
Having proposed deeper cuts than either of his more conservative predecessors, Clinton set out to outflank the opposition. He dispatched Bentsen to Texas, economic adviser Robert Rubin to the New York Stock Exchange and other Cabinet officers to their home states to sell his plan. "All those who say we should cut more, be as specific as I have been," Clinton said. By the day after his speech to Congress, during his road show to promote his budget plan, he was adopting the Republican message as his own, telling a crowd in St. Louis, Missouri, "We need you to hold...
...rate to 36%, but also restores much of the fiscal macrame that enriches lawyers and tax accountants. The real estate industry, a staunch Clinton ally, makes out very nicely. A proposal to limit the mortgage-interest deduction for upper-income taxpayers "received serious consideration" until late last week, Bentsen said. But it eventually "fell out" of Clinton's package because a limit even on mortgages above $300,000 might depress expensive housing markets. "What about New York, where so many of the mortgages are more than $300,000?" Bentsen asked. "What about California?" Clinton's proposal also restores incentives...
...Bentsen assured his former colleagues in Congress that "when it comes to a tough vote, he's going to be with you and won't leave you out there hanging like some Presidents have done." Ground zero is the House Ways and Means Committee, where lobbyists hover over the 38 members as they yank and pull at each spending proposal. "At Ways and Means, we're looking at the most important six months of the committee's existence," says Texas Congressman Bill Archer, the ranking Republican. "If lobbyists can organize so much turmoil over a little tax loophole, just imagine...
BACKDOWNS AND DELAYS Some tax boosts once widely talked about will not appear in the Clinton program. Treasury Secretary Lloyd Bentsen, House Ways and Means Committee Chairman Dan Rostenkowski and other veterans of the bloody inheritance-tax wars of the 1970s successfully counseled the Administration not to fight that battle again. Clinton's aides found that eliminating mortgage-interest deductions for second homes would hit hard at many people who are decidedly not rich. "It turns out after you study it that a lot of autoworkers have cabins in Michigan," says a presidential assistant. Instead, the Administration is likely...