Word: garns
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Congress has begun to act on those complaints. Senate Banking Committee Chairman Jake Garn of Utah wants to prevent money market funds from offering check-writing privileges; Congressman James Leach of Iowa has introduced a bill that would diminish the funds' appeal by setting reserve requirements on them. The money market funds are regulated by the Securities and Exchange Commission, but they, unlike banks, are not obliged to leave up to 12% of their deposits with the Federal Reserve. Such a requirement would increase costs for money market funds and reduce the interest they could...
...PANAMA CANAL TREATY was the first major target on Viguerie's hit-list. While the Republican Party waffled on the treaty in 1978, the New Right organized. It enlisted conservative groups, raised money through direct mail, and flew a "Truth Squad"--including Senators Paul Laxalt (R-Nev.) and Jake Garn (R-Utah)--around the U.S. to denounce the giveaway treaty. While it lost the Senate vote, the New Right had raised and spent $3 million during the campaign and brought "countless members of the Silent Majority into the conservative movement." Viguerie claims the popular swell also put new conservatives...
Republican control of the new U.S. Senate has also increased the influence of such fellow "rebels" as Paul Laxalt of Nevada and Jake Garn and Orrin Hatch of Utah. Sagebrush Rebellion leaders now plan to concentrate their battle for control of the federal lands in Congress, where both Hatch and Nevada's Democratic Representative Jim Santini have introduced bills that would set up a commission to establish an "orderly process" for transferring land to the states. Though they have little
...many of the newly influential Republican Senators will want to go much further. Garn is out to amend the Davis-Bacon Act so that it no longer raises the pay of workers on federally assisted construction projects. Says he: "Organized labor is going to scream to high heaven, but I think we've got the votes." Utah's ultraconservative Orrin Hatch, the new Senate Labor Committee chairman-who greeted his ascendancy by exclaiming, "I thought I'd died and gone to heaven!"-is in favor of lowering the minimum wage for young workers, a proposal Reagan...
...Carolina Outcome Uncertain James Hunt Jr.-D North Dakota Mark Andrews-R Outcome Uncertain Ohio John Glenn-D Oklahoma Don Nickles-R Oregon Bob Packwood-R Pennsylvania Arlen Specter-R Rhode Island Jospeph Garrahy-D South Carolina Ernest Hollings-D South Dakota James Abdnor-R Tennessee Texas Utah Jake Garn-R Scott Matheson-D Vermont Outcome Uncertain Richard Snelling-R Virginia Washington Slade Gorton-R John Spellman-R West Virginia Jay Rockfeller-D Wisconsin Outcome Uncertain Wyoming