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Article: Clinton calls his retirement-plan proposal a `tax cut'.
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- February 18, 1999
- Author:
CopyrightCOPYRIGHT 1999 News World Communications, 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)
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President Clinton yesterday recast his proposed USA retirement accounts as a $500 billion-plus "tax cut" to neutralize Republican calls for an across-the-board tax rebate.
The government-subsidized retirement accounts, first outlined by Mr. Clinton in his State of the Union address Jan. 19, are a key element of the president's plan to help baby boomers prepare for retirement while shoring up Social Security and Medicare.
Addressing a group of students in the East Room of the White House yesterday, Mr. Clinton described his Universal Savings Accounts (USA) proposal as "a tax cut of over $500 billion . . . that would be targeted to middle-class ...