January 25, 1995 in Nation/World

Clinton’s Proposals


Here are some of the proposals advocated by President Clinton Tuesday night:

Raise the minimum wage, now $4.25 an hour. Clinton may seek to a hike to $5 an hour.

Allow families making less than $120,000 to claim a tax deduction of up to $10,000 for college tuition and worker retraining.

Allow families with incomes less than $75,000 to receive a tax credit of up to $500 for each child 13 years old and under.

Permit persons in families with incomes up to $100,000 to make up to $2,000 in tax-free contributions to an IRA account. Penalty-free withdrawals could be made for education, major medical expenses, the purchase of a first home or the care of a parent.

Maintain a freeze on discretionary government spending and find $24 billion in cuts from Cabinet departments and agencies.


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