Word: rostenkowskis
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Democrats in both houses, on the other hand, fear that the President would wield his veto power if they pushed an alternative of their own. "I went through that drill last year," recalls Illinois' Dan Rostenkowski, chairman of the House Ways and Means Committee, who had proposed a Democratic substitute for Reagan's tax cuts. "I came away unbowed but a little bloody. I can't move anything in the Congress." Democrats find themselves in an ambiguous political position. Most believe that Reagan's budget makes no economic sense and will severely prolong or even deepen...
...That is already happening. Senate Finance Chairman Robert Dole of Kansas announced last week that his Democratic counterpart in the House, Dan Rostenkowski of Illinois, had agreed to support legislation to end the tax leasing proviso that allows money-losing companies to sell their depreciation credits to profitable firms. Leasing would cost the Treasury about $27 billion over five years, and is virtually certain to be repealed...
Congressional Democrats are not ready to help Reagan by accepting his new budget cuts or tax increases. House Democrat Dan Rostenkowski of Illinois, the chairman of the Ways and Means Committee, is thirsting for revenge after the humiliating defeat he suffered last summer when the Reagan machine rolled over the Democratic tax-cut program and passed its own. Rostenkowski has already warned the Administration that his committee will not take up new "consumer taxes" this session. Speaker of the House Thomas P. ("Tip") O'Neill Jr. of Massachusetts last week endorsed the tough stand, saying that Democrats would...
...bipartisan bill, the Democrats had agreed to accept many of the basics of Reagan's plan, including a massive, multiyear tax cut and accelerated depreciation for businesses. "We have won the tax debate," said White House Chief of Staff James Baker after hearing of the concessions made by Rostenkowski's committee. Nonetheless, the Administration decided to hang tough for everything it wanted. Said one top Reagan adviser: "All the Democrats achieved by compromising was to undercut their own arguments against our position...
...networks offered Democrats time for rebuttal. Looking prophetically grumpy, Rostenkowski and O'Neill asked their $50,000 question: Would not voters in the 95% of the nation's households that earn less than that amount be better off with the Democratic version? But the tide had clearly begun to turn. O'Neill phoned potential defectors until midnight on Tuesday, trying vainly to keep his colleagues in line. But the next morning the Speaker admitted the imminence of defeat, blaming it on "a telephone blitz like this nation has never seen." Afterward, however, the Speaker joined Rostenkowski...