|
|
Article: Senate finance panel OK's GATT financing. (Senate Finance Committee approves $11.5 billion financing plan to implement Uruguay Round of the General Agreement on Tariffs and Trade)
- Article from:
- WWD
- Article date:
- August 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
WASHINGTON -- The Senate Finance Committee kept the GATT Uruguay Round alive Friday by approving a controversial $11.5 billion financing plan, but the funding is not assured yet.
It faces renewed opposition among House Republicans who vow that if taxes are raised to make up for the lost tariff income, they will oppose the pact.
The Senate panel vote was 11 to 9. It took a special visit to Capitol Hill by Treasury Secretary Lloyd Bentsen to muster the votes among Finance Committee members for the funding. Bentsen agreed to remove one of the most contentious proposals, which would have reduced the amount of interest earned on tax overpayments made by ...