Word: tax-cutting
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Dreyfus carried out his pledges. Before even proposing a budget, he got the Democratic-controlled legislature to pass a tax-cut bill, which in effect returned the state's huge tax surplus to the people without cutting services. "First you decide how much money there is, and then you decide what you're going to spend it on," he argued. He opened off-limits meetings to journalists, and he announced that there would be a new fiscal restraint. Although he has proposed a budget that is 20% higher than the previous one, Dreyfus maintains that "my key program...
Like his mentor L.B.J., Jones is more interested in advancing by compromise than confrontation. After whining a seat in Congress from an affluent and largely Republican district of Tulsa in 1972, he was assigned to the tax-writing Ways and Means Committee in 1974. When the tax-cut bill bogged down in the committee last summer, Chairman Al Ullman asked Jones to see if he could find a compromise. Jones pieced together a combination of general tax reductions and capital-gains cuts that won the committee's endorsement. When the legislation came to the House floor...
...G.O.P. breakthroughs were mostly individual. As in the rest of the country, elections in the South did not generally turn on party lines or the President's popularity. Perhaps because local taxes tend to be lower in the South, there were also fewer manifestations of the tax-cut issue. In fact there were few issues at all: attention seemed to focus on such trivial things as, in Texas, a spurned handshake (Senator Tower's public rebuff to Democrat Robert Krueger) and, in Virginia, a famous wife...
...dangers of recession and unemployment, and so he kept convincing himself that the dollar might be miraculously rescued by an improvement in the U.S. trade deficit (down from almost $3 billion in July to $1.7 billion in September), by passage of the long awaited and much battered energy and tax-cut bills, and by the President's Stage II anti-inflation program of wage-price guidelines. After all, money traders, finance ministers and central bankers agreed that the long decline had caused the dollar to be grossly undervalued. The greenback will now buy more coffee, clothes, steel or whatever when...
...interesting race is shaping up for the U.S. Senate seat from New Jersey between tax-cut trumpeter Jeffrey Bell and ex-New York Knick basketball star Bill Bradley...