Word: budgeted
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Dates: during 1980-1989
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Critics like Ralph Nader point out that congressional expenses are one of the fastest-growing areas in the federal budget. "Congressional pay is 48% higher than it was in 1980, and now they say they deserve more," charges the consumer advocate. "Our power elite wants to be an economic elite as well." In a report last year, Nader noted that in 1988 Congress spent $1.97 billion just to keep itself going, $220 million more than the previous year...
...leap since the oil-parched 1970s. Reason: a hefty increase in the federal gasoline tax may be coming down the road this year. To an increasing number of politicians and economists, a gas-tax boost would be one of the simplest and most effective ways to reduce the 1990 budget deficit. The idea could quickly gain ground among congressional leaders who are preparing to haggle with the incoming Bush Administration over steps to stanch the red ink. "It seems everybody has decided that a higher gasoline tax is the answer," says Susan Simon, a Washington political analyst for Wall Street...
...trillion budget that President Reagan sent to Congress last week presages the coming battle by pointedly rejecting the need to increase any taxes to cut the projected 1990 deficit of $127 billion to the $100 billion required by the Gramm-Rudman law. Instead, the Reagan budget proposes to accomplish that in part by eliminating 82 federal programs, all of which Congress has defended in past budgets. While Democrats dismissed the Reagan document as "irrelevant," since President-elect Bush plans to submit a revised version by Feb. 20, the incoming Administration is unlikely to embrace a tax increase until it becomes...
...taxes, which is one of the lowest levels in the world -- and below 1950 prices after inflation is deducted. In a TIME survey conducted last week by the opinion firm Yankelovich Clancy Shulman, nearly three-quarters of those polled said they opposed any tax boost to reduce the budget deficit. A nearly equal number acknowledged, however, that an increase seemed likely during the Bush Administration. When asked which tax they would rather see raised if an increase was necessary, 26% favored the gas tax. The measure was second to the untried notion of a national sales tax, which 44% selected...
...levy would restrict their ability to increase their own rates. Georgia Governor Joe Frank Harris has proposed a 6 cents raise in his state's 7.5 cents tax, and last week Governor Michael Dukakis asked for a 6 cents increase in Massachusetts' 11 cents levy to help balance his budget...