BUSINESS
July 24, 1997 | JUBE SHIVER Jr., TIMES STAFF WRITER
In a highly unusual maneuver, House and Senate budget conferees are considering diverting billions of dollars in rural phone subsidies to make up for an expected shortfall in federal airwave-auction revenue. The federal government projects a $3-billion to $4-billion budget gap stemming from a short supply in forthcoming auctions of airwaves to communications companies.