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Tax (Cuts) And Spend


Washington Outlook: CAPITAL WRAPUP

TAX (CUTS) AND SPEND

Congressional Republicans have no plans to pay for their proposed $245 billion tax cut with spending reductions. Most of it will be financed with a $170 billion "fiscal dividend"--lower interest rates that, in theory, would be triggered by movement toward a balanced budget in 2002. The rest of the money would simply be borrowed, adding to the $5 trillion national debt. Democrats wonder how the GOP will get its fiscal bonus by financing tax cuts with more red ink.


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