Word: threeyears
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Dates: during 1980-1989
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...deficit front, too, there are grounds for a little optimism. Passage of the threeyear, nearly $100 billion tax increase two weeks ago reassured Wall Street that the problem would at least be addressed. By lobbying all out for the bill, Reagan proved that he has moved away from the supply-side zealots, whose views of lower taxes as an economic cure-all had dominated the early months of the Administration. The President's tendency now is toward a far more traditional Republican philosophy that stresses holding down deficits. Congress showed commendable courage as well in raising taxes...
...Thursday, however, Ohio Democrat Mary Rose Oakar proposed an amendment to the Republican budget that would cancel a threeyear, $23.3 billion reduction in planned Medicare spending* and take the money instead out of defense outlays. To the astonishment of leaders of both parties, the House passed the amendment, 227 to 196; some 64 Republicans, apparently worried about the effect of Medicare cuts on their re-election campaigns, voted for it. That destroyed the coalition behind the Republican plan; many conservatives would no longer support the proposal with the amendment, and it lost 235 to 192. But no other working coalition...
Last year the world of science was jolted by the public airing of four major cheating scandals, involving such prestigious institutions as Yale School of Medicine; Boston's Massachusetts General Hospital, an affiliate of Harvard; and the Boston University Medical Center, where a threeyear, $1 million cancer-research project was tainted by falsified data. This year two University of California scientists have been reprimanded for a different ethical breach: violating federal guidelines governing genetic engineering. Some newspapers have begun talking about a scientific "crime wave," and though the term does not really apply, Congress took notice by holding hearings...
...Finance Committee went along, approving, 15 to 4, a threeyear, 25% income tax reduction to begin Oct. 1. The Finance Committee and the Administration also agree on proposals that would reduce the "marriage penalty" tax paid by wage-earning couples and allow faster tax write-offs for business investments...
...from a fight," says Donald Regan, 62, World War II Marine and former chairman of Merrill Lynch & Co., largest brokerage firm in the country. In the past several months, the Treasury Secretary has remained true to his word. As point man in the Administration's drive for a threeyear, 25% cut in personal income taxes, Regan has emerged from the obscurity of his first days in office-and from the shadow of highly visible Budget Director David Stockman-as a tough and unyielding negotiator. The package he presented last week to the Senate and House tax-writing committees...