Alternatives
Some alternatives to the bill included a proposal by Senator David Boren (D-OK), which among other things would have kept much of the tax increase on upper-income payers but would have eliminated all energy tax increases while also scaling back the Earned Income Tax Credit. It was endorsed by Bill Cohen (R-ME), Bennett Johnston (D-LA), and John Danforth (R-MO). Boren's proposal never passed committee. Clinton himself claimed he had an alternative tax proposal that favored taxes on energy, but later passed a bill that raised income taxes on middle income and higher income Americans because of no Republican support for the budget. Later in 1995 he expressed belief that he had raised taxes too much (In 1997 he later cut the capital gains tax from 28 to 20%).
Another proposal was offered in the House of Representatives by John Kasich (R-OH). He sponsored an amendment that would have reduced the deficit by cutting $355 billion in spending with $129 billion of the cuts coming from entitlement programs (the actual bill cut entitlement spending by only $42 billion). The amendment would have eliminated any tax increases. The amendment failed by a 138-295 vote with many Republicans voting against the amendment and only six Democrats voting in favor of the amendment.
Read more about this topic: Omnibus Budget Reconciliation Act Of 1993
Famous quotes containing the word alternatives:
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—Ann Oakley (b. 1944)
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—Allen Tate (1899–1979)