Word: tax-cutting
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Although Lucas has unveiled an ambitious tax-cut proposal, Incumbent Democrat James Blanchard has ridden the state's economic resurgence to a 2-to-l lead. Blanchard boasts of cutting the state's unemployment in half and of erasing Michigan's $1.7 billion debt. He has won support from farm and business interests, moderate Republicans and the majority of blacks, who make up 12% of the state's electorate. The Governor has tried to handle the race issue carefully, realizing that some blacks support Lucas out of a sense of racial pride. "I can understand that feeling," says Blanchard...
...young women get home safely, which was what mattered most. And keeping the opposition in the loop would provide political cover. "All of the most delicate negotiations," says one Berlusconi ally, "have the stamp of Letta." Along with the reshuffle that brought Follini into the Cabinet, Berlusconi orchestrated a tax-cut plan that gave him his first boost in the polls in well over a year. Here again, Letta played the role of political guarantor, assuring Economy Minister Domenico Siniscalco that the cuts would not put Italy's credit ratings at risk or push its deficit above the E.U. limit...
...talked about her father’s stances on a range of issues, including universal health care, tax-cut rollbacks, national security and civil liberties, but she focused on the matters about which she said she was most passionate: combating AIDS worldwide and preserving the environment...
...Appropriations Committee chair Bill Young said flatly the numbers don't add up. Many were worried that the budget just pushes the worst problems down the road, since the costs of Social Security and Medicare will explode as the baby boomers retire. Projected revenue losses from the Administration's tax-cut proposals over five years in this budget total $175 billion; projected losses for the five years following it are more than five times as large: $947 billion...
...NASDAQ composite all ended the year in solidly positive territory for the first time since 1999. Most market strategists are looking forward to another finish in the black in 2004, but many warn that by midyear, stock prices may start losing steam as the tax-cut stimulus effect wears off--especially if the Fed raises interest rates. As the economy continues to grow, the fear of inflation--or the thing itself--could also dampen stock prices. A few market watchers think the S&P 500, a popular gauge, could end 2004 flat or even down modestly, but most strategists predict...