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...sharply, and zero out Clinton's pet achievement, the national-service program. Even during the retreat, House members were forming "rump groups" to contest specific cuts, particularly the farm subsidies that Kasich has slated for major reductions. The hysteria will mount this week when Senate Budget Committee Chairman Pete Domenici makes his plan public-a plan without the salve of tax cuts...

Author: /time Magazine | Title: THE MOST UNKINDEST CUT | 5/15/1995 | See Source »

Senate Budget Committee chairman Pete Domenici (R-N.M.) blinked today, announcing that Republicans want to create a bipartisan congressional commission to work out the details of theirpolitically-sensitive plan to balance the budgetwithin seven years. The tactic, announced a day before House and Senate GOP leaders are due to unveil their respective budget cut proposals, is an attempt to draw Democrats into a potentially-explosive budget process that may include up to$300 million in Medicare cuts. Also today, Rep. Bill Thomas (R-Calif.), chairman of the Ways and Means health subcommittee, advocated raising the eligibility age for Medicare...

Author: /time Magazine | Title: BIPARTISANSHIP, REPUBLICAN-STYLE | 5/8/1995 | See Source »

Senate Budget Committee Chairman Pete Domenici (R-N.M.) and Sen. Sam Nunn (D-Ga.) -- two of Washington's most steadfast deficit hawks -- today proposed legislation to permit Americans to deduct every dollar they save and invest. The plan, asimplification of the tax codealong the lines of the Individual Retirement Account, arrives just as federal income tax reform is shaping up as a major issue in the1996 presidential election. GOP senators and White House hopefulsRichard Lugar of IndianaandArlen Specter of Pennsylvaniahave already embraced a "flat tax," andBob Doleis thinking it over...

Author: /time Magazine | Title: TAX-FREE PIGGY BANKS? | 4/25/1995 | See Source »

TIME Washington correspondent Suneel Ratansays Domenici -- the Senate's chief budgeteer -- plans to announce Thursday his plans for cutting an "unimaginable" $1 trillion from projected federal spending over the next seven years in a bid to fulfill the GOP promise to balance the budget by 2002. Roughly a third of those proposed cuts are expected to come from projected Medicare spending. Ratan says that both parties believe such cuts are necessary, and now Domenici is throwing down the gauntlet...

Author: /time Magazine | Title: GET OUT YOUR HANDKERCHIEFS | 4/25/1995 | See Source »

Republican lawmakers today unveiled plans to cut government health care costs by putting the brakes onMedicare and Medicaid growth. Senate Budget Committee Chairman Pete Domenici (R-N.M.) said during testimony in the House that he wants to slow Medicare's 10 percent annual growth rate to 7 percent or less, while cutting Medicaid growth from 10 percent to 5 percent. House Speaker Newt Gingrich said a "reasonable cap" on Medicaid growth would be "well below 8 percent" if the program isturned over to the states, an idea being discussed with governors.TIME Washington correspondent Dick Thompsonsays the GOP is hoping...

Author: /time Magazine | Title: THE GOP HEALTH PLAN FOR AMERICA | 3/28/1995 | See Source »

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