Word: omnibuses
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...sanctions actually cheered legislators who are preparing a new version of a tough omnibus trade bill that passed the House of Representatives last year but died in the Senate. One version of the new bill is expected to reach the House floor on April 28, the day before Nakasone's visit. Says Senator Max Baucus of Montana, a leading congressional activist on trade issues: "The President's semiconductor action is sort of a turning point. We're going to stop talking and start taking action...
...major initiatives of his remaining years in office: a new assault on America's horrendous trade deficit. The President was also signaling an important change of tactics. After two years of beating back congressional efforts to pass protectionist trade legislation, the White House is about to bring forth an omnibus bill that seeks to toughen trade laws and enhance American competitiveness. The Administration initiative, which will reach Capitol Hill in late February, is part and parcel of an aggressive U.S. posture toward some of its closest economic partners. Coming at a time when the air is already thick with international...
...Long Island jobs and launching a "Save the T-46A" drive. The campaign climaxed in the Senate, where Republican Alphonse D'Amato and Democrat Daniel Moynihan teamed up to stage a 23 1/2-hr. filibuster in the closing days of the congressional session. They stalled passage of an omnibus spending bill long enough so that the Government began running out of funds and half a million federal workers had to be sent home. Their lost time cost taxpayers an estimated $62 million. But the tactic worked: Congress decreed that the Fairchild aircraft should be given another - year to try to beat...
...from Ilopango and Aguacate air base in Honduras. The contras reportedly bought the equipment and paid the crews in part with private funds and money borrowed from American and other banks, using as collateral a $100 million aid package that Congress released late last week as part of its omnibus 1987 spending bill...
...omnibus bill is filled with wrinkles, like a complicated "minimum tax" procedure for corporations that previously paid little or no taxes, and dizzying "transitional rules" designed to ease many businesses into the new regime. Fretted Manhattan Economist Alan Greenspan: "I don't think we yet understand how complex this is." As Aaron put it: "You will discover hardships, provisions that don't work the way that you want them to, tax liabilities that Congress would conclude it didn't want to impose. In some cases, the lawmakers will want to back off." If that is so, the tax reform bill...