Word: bentsen
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...preparing firm in Inglewood, Calif. "I've even had lawyers call me because they couldn't understand it." The new W-4, which was designed to help taxpayers accurately calculate their withholding level under the new tax law, is producing an epidemic of headaches. Last week Lloyd Bentsen of Texas, chairman of the Senate Finance Committee, joined puzzled taxpayers in trashing the four-page W-4, which is twice as long as the old one. In a letter to Lawrence Gibbs, the Internal Revenue Service commissioner, Bentsen asked the IRS to consider making the W-4 optional or substituting...
...real compromises. But if he does that, his historic legacy will include not only more than doubling the national debt but also leaving office with deficits on the rise. The chance of striking some compromise is enhanced because Reagan will be dealing with two pragmatic and moderate Democrats: Lloyd Bentsen of Texas, the new chairman of the Finance Committee, and Florida's Lawton Chiles, who will be taking over the Budget Committee...
...written an import-restricting bill of his own. It would impose penalty tariffs on natural resources, such as minerals and natural gas extracted from government- owned land in foreign countries, that are shipped to the U.S. at subsidized prices. This bill, along with the textile bill, the Rostenkowski-Gephardt- Bentsen 25%-surcharge proposal and the two Danforth reciprocity bills, are among the measures most likely to get serious consideration...
Support for other protectionist bills appeared to weaken too. Ways and Means Chairman Dan Rostenkowski of Illinois, a principal author (with Gephardt and Texas Democratic Senator Lloyd Bentsen) of the bill to impose a 25% tariff on goods from countries running especially large surpluses in trade with the U.S., has always acknowledged that the bill is likely to be rewritten in ways that he cannot foresee. Gephardt now is voicing hope that if the measure does pass in something like its present form, its targets will trim their trade surpluses enough to escape its provisions. But he admits, "I really...
...measure was drafted by Ways and Means Committee Chairman Dan Rostenkowski of Illinois and two Democratic colleagues, Texas Senator Lloyd Bentsen and Missouri Congressman Richard Gephardt. It would require countries that are running especially large surpluses in trade with the U.S. to begin reducing them immediately or face a stiff penalty: a 25% tariff to be imposed on the value of all goods that they continued to sell in the U.S. In its present form, the bill would apply to four nations: Japan (of course), Taiwan, South Korea and Brazil. Thus it would raise sharply the prices American consumers would...