Word: slashe
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...Lausanne Investments," a bank spokesman declared. When TIME pursued the issue, the spokesman changed his answer. Lausanne, he said, was owned by the same investors who own Chaumet--a group led by Investcorp. This means Investcorp controlled the seller and the buyer and used that control to slash Chaumet's losses. While there is nothing odd about a jeweler's disposing of excess stock this way, Lausanne's ownership is not disclosed in Chaumet's publicly filed financial statements, which means anyone who read them would get a distorted impression of the company's performance. Investcorp insists its own clients...
...Senate Finance Committee, the G.O.P.'s tax cut moved forward. On a party-line 11-to-9 vote, the panel approved the $245 billion G.O.P. tax-cut package that, among other things, would create a $500-per-child tax credit for couples earning up to $110,000 and slash capital-gains taxes...
...Senate Finance Committee this afternoon approved the GOP tax cut proposal that Democrats claim Republicans would slash Medicare to pay for. On an 11-9 vote that split along party lines, the package would reduce taxes by $245 billion over the next seven years. The bill includes the $500-per-child tax credit featured prominently in the GOP's Contract With America, while it sharply reduces the Clinton Administration's earned-income tax credit. The bill now heads to the Senate floor as part of the larger Republican budget bill that seeks to eliminate the deficit...
...interview Friday, he said he will not seek to end bilingual programs so long as they "ensure that people learn English in a timely fashion." Some pending bills, however, would virtually dismantle the Federal Government's 27-year support for bilingual schooling. Congressional budget proposals would slash current bilingual education funding as much...
After delaying action yesterday because of protest, the Senate Labor and Human Resources Committee is poised to consider a package today that would slash $10.1 billion in federal student loans and impose a tax which would cost Harvard an additional $1.2 million annually over the next seven years...