January 25, 1995 in Nation/World

Clinton’s Proposals

Knight-Ridder
 

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.

xxxx

Get stories like this in a free daily email


Please keep it civil. Don't post comments that are obscene, defamatory, threatening, off-topic, an infringement of copyright or an invasion of privacy. Read our forum standards and community guidelines.

You must be logged in to post comments. Please log in here or click the comment box below for options.

comments powered by Disqus