Word: bentsen
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...Senate, Bentsen has concentrated on the economy. A fiscal conservative, he deplored big spending and even objected to revenue sharing as a strain on the federal budget. But during the recession, he has called for Government intervention to counter unemployment. He introduced a bill to create 840,000 summer jobs for unemployed youths and urges a revival of the Civilian Conservation Corps, the New Deal agency that put tens of thousands of young people to work on federal conservation projects around the country. To stimulate the depressed housing industry, Bentsen has proposed giving a 20% tax credit to parents...
Surprise and Chagrin. Convinced that there will soon be a critical shortage of capital, Bentsen has introduced a bill to encourage more investment. The bill provides for a scaling down of the 35% capital gains tax. The longer an asset is held, the less it would be taxed when it is sold. After 15 years, the tax would be trimmed to 14%. The bill also increases from $1,000 to $4,000 the maximum yearly write-off of capital losses...
...reach the middle of the road, Bentsen had to move away from his close identification with his home state's largest industry. To the surprise and chagrin of some of his supporters, he voted for a bill to abolish the depletion allowance for the major oil companies while retaining it for the independents, which do much of the exploratory drilling in the U.S. Bentsen has also called for the creation of a federal bank to guarantee loans to private industry for the development of alternative energy sources. To conserve energy, he has proposed a gasoline tax that starts...
Mainly preoccupied with domestic matters, Bentsen has demonstrated no particular aptitude for foreign affairs. Generally, he goes along with his fellow Democrats' attacks on détente and Secretary of State Henry Kissinger. Though a hard-liner on defense, Bentsen often raps the Pentagon for sloppy analysis and wasteful spending, asking: "Can this country afford a $17 billion-a-year civilian defense payroll that is purely for support rather than combat purposes...
Full Portfolio. Bentsen has raised $1.5 million in campaign funds, more than any other candidate except George Wallace and Henry Jackson. He has also enlisted some impressive political support. While refraining from an outright endorsement, Senate Majority Leader Mike Mansfield has said that Bentsen has a full portfolio of presidential qualifications. Bentsen has been formally endorsed by Louisiana Governor Edwin Edwards and by almost every important office holder in Virginia. He is expected to defeat Wallace handily in the Texas primary and to do well in other parts of the South...