What A Tax Cut Deal Will Look Like

Forget the bluster. A compromise seems likely by August

Call it the war of the soccer moms. On July 10, the Democrats trotted out Gloria Pressley of Gaithersburg, Md., a single mother of two who earns $24,000 a year and will pay $1,836 in Social Security taxes this year. Under the House Republicans' tax-cut proposal, they fumed, she'd get back not a dime. That's because she qualifies for a credit that erases her income-tax liability. Under President Clinton's plan, though, she'd collect $1,000.

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