October 9, 1988
By a vote of 248 for and 150 against, the House passed and sent to the White House a bill (HR 1154) limiting the growth of textile and clothing imports to 1% annually and freezing imports of non-rubber footwear at current levels. President Reagan vetoed the bill as overly protectionist. Supporter James H. Quillen (R-Tenn.) said: "All we are asking for is fair trade. We must keep American jobs. . . ." Opponent Sam Gibbons (D-Fla.
September 11, 1988 |
While an estimated $10 million-plus will be spent to support hundreds of candidates this election year by organizations keyed to housing/finance activities, there's still a strong chance that the next Congress will further erode the mortgage interest tax deductibility advantage of home ownership. For decades, most housing professionals regarded the mortgage interest deduction for home ownership as sacrosanct.
March 25, 1987 |
Sweeping trade legislation containing new power to aid U.S. industry and punish unfair foreign practices with import curbs cleared its major House committee hurdle today. "The bill we are reporting is tough but fair," Rep. Dan Rostenkowski (D-Ill.), chairman of the House Ways and Means Committee, said. "It sends our trading partners a strong message that the time for excuses is over." Only Reps. Philip M. Crane (R-Ill.) and Hal Daub (R-Neb.
November 17, 1985 |
The House Ways and Means Committee, continuing work over the weekend in an effort to finish drafting a sweeping tax bill by this week, voted Saturday to dramatically restrict the tax credits businesses may claim for their overseas operations and give less generous tax breaks to Americans working in foreign countries. The new regulations, if enacted into law, would increase taxes paid by multinational corporations and U.S. taxpayers working overseas by $12 billion over five years.