ROANOKE TIMES Copyright (c) 1996, Roanoke Times DATE: Monday, January 8, 1996 TAG: 9601110046 SECTION: NATIONAL/INTERNATIONAL PAGE: C-5 EDITION: METRO SOURCE: Associated Press
Highlights of the new seven-year budget-balancing plan President Clinton offered Saturday night at White House negotiations with congressional leaders, and how it compares with the Republican proposal Congress approved in November.
All savings are over seven years, use Congressional Budget Office figures and were provided by the White House:
Total seven-year savings: Clinton $602 billion, Republicans $664 billion.
Medicare: Clinton $102 billion, Republicans $201 billion.
Medicaid: Clinton $52 billion, Republicans $117 billion.
Annually approved general government spending, including defense: Clinton $295 billion, Republicans $383 billion.
Welfare, including earned income tax credit for the working poor: Clinton $45 billion, Republicans $82 billion.
Tax cuts: Clinton $87 billion, growing to $147 billion if economy performs as well as the White House believes it will; Republicans $241 billion.
Closing corporate tax breaks: Clinton $60 billion, Republicans $18 billion.
Student loans: Clinton 0, Republicans $4.5 billion.
Farm programs: Clinton 0, Republicans $4.6 billion.
Savings from lower interest payments as federal deficits go down: Clinton $57 billion, Republicans $62 billion.
New revenue from FCC auction of special broadcast frequencies: Clinton $21 billion, Republicans $15 billion.
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