Word: packwood
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
Republican incumbent Bob Packwood easily returned to his Senate seat. In the governor's race, former Cabinet officer Neil Goldschmidt beat Republican Norma Paulus...
...last week what couldn't be done cleared its last major hurdle. In a series of tense meetings that began Tuesday night and wound up shortly before 5 a.m. Saturday, Senate Finance Committee Chairman Bob Packwood and House Ways and Means Chief Dan Rostenkowski compromised on the last significant differences between the versions passed by the House last December and the Senate in June. Then came a day of nerve-jangling negotiations selling the deal to the other 20 members of the House-Senate conference committee (ten from each chamber). Finally the full committee gave its stamp of approval Saturday...
...presented to the other side. The House gave in early to the Senate's two tax rates. That left the biggest question: How large should the increase in business taxes be? After a supposedly climactic session last Tuesday turned into a shouting match, the weary conferees agreed to let Packwood and Rostenkowski try to break the impasse. The two met on and off--at times with a few aides, at times alone--well into the night. By Thursday evening, according to Packwood, they were within two hours of a deal that would cut individual taxes and raise business levies...
...Joint Committee on Taxation, relaying bad news: the numbers would not balance. If new projections of slower growth in the economy were correct, the tax increase on business would be only $114 billion, and the cut for individuals would be $131 billion, leaving a $17 billion gap. Packwood and Rostenkowski quickly agreed on how to raise $7 billion, but deadlocked on the remaining $10 billion. "It's a blow to us to have been so close and yet so far," said Rostenkowski as they broke late Thursday night. "He and I almost cried," Packwood reported at a press conference Friday...
...bills. Examples: both would entirely remove from the tax rolls some 6 million people below or just above the poverty line, and both would revive the so-called marriage penalty by ending the special deduction for families with two wage earners. Another good omen for the conference is that Packwood and Rostenkowski, who have had some testy exchanges in the past, are now talking friendly compromise. Says the Chicago Congressman: "The challenge is to take the best reforms from each" bill. Echoes the Oregon Senator: "Neither one of us will have pride of authorship." But the differences between...