Insights into Republican Tax Cut

Host Bob Edwards talks to Senator Pete Domenici, Republican of New Mexico, who chairs the Senate Budget Committee, which drafted the Republican tax cut bill. Senator Domenici says there will be a three-point-three trillion dollar budget surplus over the 10-year period, and that the Republican bill would set aside half of that amount for reducing the national debt and protecting Social Security and Medicare. Another one-quarter of the surplus would be reserved for new spending, and the final one-quarter would go to tax cuts.

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