European Stars and Stripes (Newspaper) - March 13, 1992, Darmstadt, Hesse                                Friday March 13, 1992 the stars and stripes a Page 5senate kills gop economic Washington apr the Senate voting largely along party lines wednesday night rejected president Bush s Short Range economic stimulus plan that the republicans sought to substitute for the democrats Middle class tax Cut. The 60-37 vote was on a technical Point that found the gop Bill failed to meet deficit reduction requirements. Because of those same restrictions democrats had to make a last minute change in their Middle class tax credit limiting it to families with incomes under $50,000, rather than the original $70,000 ceiling. Democratic leaders expected their Bill to be approved by the Senate As Early As thursday and after a Compromise was reached with a House plan to be vetoed by Bush because it would raise taxes on the Rich. A nothing we do is going to catapult the Economy into a dramatic increase in the next six months a Saia sen. Bob Packwood of Oregon the senior Republican on the Senate finance committee. A but of the three proposals we Are considering. The presidents is the c democrats derided the gop plan As a Snake Oil magic  a a it a a giant Giveaway a said sen. Bill Bradley . A the beneficiaries. Are disproportionately the wealthiest people in the  the gop plan is built around a major reduction in taxes on capital gains the levies applied to profits from the Sale of such things As stocks. It also includes a a tax credit of up to $5,000 for some Home buyers. A penalty free individual retirement account withdrawals to buy a Home. A special tax Relief for real estate. A a new incentive for businesses to buy machinery this year. Republicans added one item of their own to Bush a plan the repeal of the luxury tax on expensive cars yachts planes furs and jewels. The democratic Bill is designed chiefly to give a tax credit of up to $300 per child to Low and Middle in come families. The credit would be financed by raising the top tax rate from 31 percent to 36 percent which generally would hit couples earning More than about $210,000 and singles above $180,000, and by imposing a surtax of up to 10 percent on taxable incomes above $1 million. The surtax alone would raise about $8.5 billion Over the next five years. The gop version would rely on spending reductions and the expectation of higher revenues from the capital gains Cut to pay for their changes. Because democrats have a 57-43 majority the Fate of the gop amendment was never in doubt. Members of both parties acknowledged that the final Bill would be vetoed by Bush because it would raise taxes on the richest 800,000 couples and individuals. In Case someone had not received the message Bush slammed the door wednesday on a proposed surtax on about 60,000 millionaires As a Way to pay for reducing capital gains taxes. A no in a against that a Bush told a news conference. A i done to want to raise  in the stars and stripes 10 years ago March 13,1982 a in an editorial the polish communist party daily Tribuna Ludu described the last three months of martial Law in Poland As "90 Days of  the Solidarity labor movement called for symbolic protests such As lighting candles in windows. 20 years ago March 13,1972 a marshal Lon nol cambodians new chief of state announced that he had dismissed his Cabinet and his prime minister Delegate Sisowath Tsirik Matak. 30 years ago March 13,1962 a British air minister Julian Amery chilled the House of commons by saying that he believed the soviet Union Quot quite soon Quot will be Able to annihilate the United states but he emphasized that the soviets did not have such a capability yet. 40 years ago March 13,1952 a sen. Estes Kefauver d-tenn., Defeated president Truman in the new Hampshire primary the first of the presidential Campaign. Kefauver gained 54 percent of the democrats popular vote and All 12 delegates to the party a convention. In the Republican primary Gen. Dwight d. Eisenhower Defeated sen. Robert a. Taft of Ohio winning All 14 of his party a delegates. World War ii 50 years ago today 13 March 1 a 9 a 4 2 japanese naval infantry begin replacing Day in the army forces that captured lae and Salamata on new Guinea the japanese Complete their occupation of Buka and other islands in the Northern Solomon islands. In the North Atlantic a British naval Force ends a fruitless week of trying to find the German battleship Tirpitz which itself failed to intercept a Convoy to the soviet Arctic Urce 2194 Days of War w h. Smith a a Fishers inc world almanac Book of world in ii. Bison books corp. 1981 Bush vows to Aid russian transition in response to criticism by Nixon Washington up president Bush responding to criticism from former president Nixon said wednesday that he agrees a we must invest what is necessary to win the peace in the aftermath of the cold War. Nixon in a speech on wednesday and in a recent memo to friends and foreign affairs experts criticized Bush for what he termed inadequate support of the democratic revolution in Russia. In a speech at a dinner Given by Nixon on wednesday night Bush made no mention of additional assistance to the former soviet Union but he appeared to indicate he May soon press for it. Earlier in the Day Bush said he was in Accord with Nixon a thinking and disclosed he was considering backing the creation of a multinational fund to support the russian Ruble. A in principle do i think it is a Good idea yes a the president declared. He also said though a we Are living in a time of constrained resources. There Isnit a lot of Money to go  in his criticism Nixon complained that Bush and the other presidential candidates seem afraid to even mention foreign affairs. With the United states trying to dig out of a recession the candidates have focused on Domestic issues. A the stakes Are High and we Are playing As if it were a Penny Ante game a Nixon said in his memo. He argued that if russian president Boris Yeltsin fails in his Effort to transform Russia into a free Market democracy All gains of the peaceful revolution will be lost. A Freedom is on trial and if Freedom does not work the russian people Are not going to return to communism because it failed but they will return in my View to what i would Call a new Des a smiling Richard Nixon greets first lady Barbara Bush and president Bush at wednesdays dinner in Washington. Pot ism a Nixon said in his address wednesday at a forum sponsored by the Richard Nixon Library amp Birthplace. The administrations support of the new Commonwealth of Independent states which replaced the soviet Union following the fall of communism in december has been primarily $3.75 billion in commercial credits to buy american Grain and an International Aid conference in Washington that produced a onetime Airlift of emergency food and medi Cal supplies. A Yeltsin is the most pro Western Leader in russian history Quot Nixon said in pushing for additional assistance ranging from humanitarian Aid to the backing of the International monetary fund. A the deserves our  Nixon noted that adequate Aid might Cost $20 billion a year Over the next live years. But he also pointed out that the West spent five times that much last year alone prior to the fall of communism a to defend against soviet  Independent electricity production backed Washington a a Bill that would encourage new entrants into the electricity generating Industry and increase Federal support for alternative fuels sailed through a House panel late wednesday. After just five hours of consideration the Energy and Commerce committee voted 42-1 to approve the Bill. It is expected to be combined with Energy related measures developed by other committees before reaching the House floor. Most of the differences Over the legis lation were worked out earlier in closed door negotiations involving committee leaders. Rep. William Dannemeyer r-calif., cast the Only dissenting vote. Under the Bill Independent non Utility companies would be encouraged to enter the electricity generating business. They would be exempted from regulation by the securities and Exchange commission and allowed to sell their Power output to utilities. Government backing for development of alternative fuels and renewable Energy sources would be increased under the measure. The Bill also would require refiners to earmark 1 percent of their output or the Cash equivalent to help fill the strategic Petroleum Reserve from the current 570 million barrels to 1 billion barrels. The latter provision is opposed by the Oil Industry and the White House. T he Bush administration has Lent support to a version of the Energy Bill that cleared the Senate on a 94-4 vote last month