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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (March 7, 1986)
. '? . R i Page lOAThe Battalion/Friday, March 7,1906 \v u\ ■ •’ • * • • • *> \ ; 1 Senate committee clowns plan Reagan budget rejected A—dated Press WASHINGTON — The Senate Budget Committee rejected Presi dent Reagan’s fiscal 1987 budget Thursday, agreeing that his formula for domestic spending cuts, a contin ued military buildup and no general tax increases will fail to meet a re quired $144 billion deficit target. The vote was 16-6 against the president’s plan, with only six of the panel’s 12 Republicans voting in fa vor of it. After the vote. While House bud get director James C. Miller 111 is sued a statement saying Congress al ways modifies what the president proposes. “I'm grateful that some senators voted for the president’s budget and that others expressed support for many of its features,’' Miller said. Sen. Pete V. Domenici, R-N.M., the committee chairman, set the mostly symbolic vote in an apparent effort to avoid prolonged partisan wrangling over the president’s spending plan, which has attracted virtually no support on Capitol Hill. He voted in favor of the budget, however. While Domenici has said in creased taxes will be needed to trim deficits, he refused to dismiss Rea gan's call for more military spend- mg. “The reason we need revenues is to make sure we put enough in de fense,” Domenici said. He added that the $22 billion in domestic spending cuts Reagan included in his budget likely will be needed. “It ain’t so” that the deficit target can be met with tax increases and trimming military spending alone, Domenici said. Sen. John Danforth, R-Mo., one of the six Republican who vdted against the president s budget, said. "Every president’s budget, almost, is dead on arrival. - “Why? Because it’s the starting point,” Danforth said, adding. “I’m going to vote against the prestdem’s budget because 1 think we can im prove on it.” But Sen. William Armstrong. R- Colo.. who backed Reagan’s budget, dismissed the committee action say ing. “This is an exercise in president bashing” that was demeaning to the comhiittee. ■ ; BUD'S ITM k ‘ ^ i or auscH me -»t lou<* Foreign credit charge cuts may boost U.S. economy Associated Press NEW YORK — Several foreign governments cut key credit charges Thursday, raising fresh hopes that the United States will enjoy a pro longed pattern of falling interest rates. Financial analysts said the cuts bv foreign central banks would allow the Federal Reserve Board to pusFi credit costs lower here and provide a further boost to the economy. The central bank of West tier- many, the Deutsche Bundesbank, announced it was reducing its dis count rate — the charge on loans to commercial banks — from 4 percent to S.Spercent ef fective today. In Tokyo, television and press re ports said Bank of Japan had de cided to cut its discount rate for the second time this year. The reports were attributed to unidentified sources who said japan's central bank governors would meet todav to formally endorse the point reduc tion to 4 percent. France and the Netherlands also announced they were lowering their of ficial rates. Ciovernments often adjust dis count rates to influence economic activity and lowering them usuallv is an attempt to spur growth But economists said the latest cuts are more likely to enable the Federal Re serve to lower credit costs m the United States without altering the relationships between interest rates around the world After the announcement from the Deutsche Bundesbank many econo mists said they expected the Fed soon to cut the U.S. discount rate. Philip Braverman, chief econo mist for Irving Securities Inc., said: " I be Fed now has the leeway to make its own move. It could come as earlv as this weekend.” Changes in the discount rate can have widespread repercussions. A cut could set off a chain reaction, perhaps encouraging banks to lower then prime lending rates and other borrowing charges, analy sts said No smoking in Houston's sports arenas MOUS'l ON — Advice for smokers in Houston: don’t light up at indoor sporting events. New regulations, adopted bv City Council on Wednesday, l>ar smoking at indoor activities rang ing from from major league ath letic events to indoor ping-pong matches at the Houston Astro dome. the Summit. Sam Houston Coliseum and other city arenas including high school gymnasi ums. Rock concerts, however, are exempt from the rule, which takes effect March l'>. The smoking ban. proposed by Councilman Jim Westmoreland, carries a fine of up to $200 and affects only the s|>ec tator seating areas and the playing field The ordinance is the latest ad dition to a no-smoking list that in cludes movie theaters, public schools, hospitals and ir^mv types v of retail and food stores. Councilman Frank Mancuso, a cigar smoker and formet profes sional baseball player, criticized the sports-onh plan as disc nmi- natory against smoking sports fans m favoi of roc k fans. Man cuso said protecting the health of .“the poor athletes” is useless lye- cause “too many inhale a lot more than )ust nicotine smoke.” 20 GREAT REASONS TO SHOP Dillard’s SPRING BREAK 5hop friday and Saturday for the biggest savings in town! JUNIOR CAMPSHIRTS 9.99 Orig. $14. Choose from a wide • variety of solids. Prints and Stripes. , . ' ' • 'V' >' 1 M . - C‘ T JUNIOR ROMPERS 11.99 Orig. $16. 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