Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, November 24, 1994 TAG: 9411250024
SECTION: NATIONAL/INTERNATIONAL PAGE: A-1 EDITION: HOLIDAY
SOURCE: Cox News Service and The Associated Press
DATELINE: WASHINGTON LENGTH: Medium
``Today we have moved one step closer toward gaining broad bipartisan support'' of the GATT trade treaty, Clinton said as he and Dole spoke on the White House lawn. ``That is good news for our workers and our future.''
Dole agreed to back the agreement after obtaining written assurances Wednesday about how the United States could withdraw from the agreement if decisions by its enforcement agency, the new World Trade Organization, were found to be unfair.
The agreement clears the way for action next week by the lame-duck Democratic Congress in the first big test of bipartisan cooperation since the elections.
The president expressed his ``deep thanks'' to Dole and his ``appreciation ... for the very constructive working relationship that we have had.''
Dole, in turn, backed away from his demand for the administration's immediate support of a capital-gains tax cut and promised to tell GOP senators ``we ought to be all in support of GATT when it comes up next week.''
Clinton had rebuffed Dole's suggestion that he endorse a reduction in the 28 percent capital-gains tax on profits from selling securities, real estate and other assets. It is a key part of the 1995 agenda for the first GOP-controlled Congress in 40 years.
However, Treasury Secretary Lloyd Bentsen sent Dole a letter promising the tax cut ``will be carefully reviewed.''
Leading opponents of the pact were dismayed.
``This is a bipartisan political betrayal by Clinton and Dole,'' consumer advocate Ralph Nader said. ``It will depress our living standards, hold wages down and sacrifice our democratic processes to the WTO's autocratic and secretive regime.''
by CNB