Word: rostenkowskis
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...after next year's elections, the House also tried to outtough the Senate by lowering the 1986 deficit ceiling to $161 billion and projecting a zero- deficit target by the end of the decade. Congress could not "put off the political pain" of budget cuts, said Illinois Democrat Dan Rostenkowski, adding, "We wanted a fair deficit-reduction proposal. The Senate wanted an incumbent protection...
Just as the Kansas City Royals were coming from far behind to win the World Series during the last weekend of October, Dan Rostenkowski, the Illinois Democrat who chairs the House Ways and Means Committee, was trying to stage a dramatic rally of his own. Only a few days before, his goal of presiding over a thorough reform of the U.S. income tax code had seemed virtually dead. But Rostenkowski called extraordinary Saturday and Sunday sessions of his committee in an attempt to breathe new life into the tax-reform effort. Though the meetings broke up at dinnertime, giving...
President Reagan may have launched the drive to cut tax rates by closing loopholes, but Rostenkowski has become the campaign's workhorse. Ever since he took over the prestigious Ways and Means post in 1981, he has been eager to mold a major tax bill. Moreover, both he and House Speaker Tip O'Neill fear that Reagan will publicly denounce them as obstructionists and win political points if tax reform dies in the Democrat-controlled House...
Lobbyists said Rostenkowski promised key Congressmen a tradeoff: in return for backing the bond cap--whose effects would be felt especially hard in the East, which has a lot of private universities--he would back other proposals to allow taxpayers to deduct state and city taxes from federal tax bills...
...Rostenkowski seems to be telling people--say, from Eastern states where they are most concerned about these things [both the deductibility question and the bond issue]--that he will take care of them on state and local deductibility if they support this. We lost some votes that way," said Thomas Head, a senior tax lobbyist at the Association of American Universities...