Senate rejects Democratic effort to hinder tax cuts, spending boosts
ALAN FRAM, Associated Press Writer
Tuesday, March 9, 2004
(03-09) 12:13 PST WASHINGTON (AP) --
The Senate rejected a Democratic effort Tuesday to make it harder for lawmakers to approve tax cuts or spending boosts as debate on a $2.36 trillion budget turned to the politically sensitive subject of protecting Social Security.
By 51-46, senators killed an amendment by Sen. Kent Conrad, D-N.D., requiring 60 Senate votes for any tax reduction or any increase in automatic benefits like Medicare that was not paid for with other budget savings. That margin can be tough to achieve in the narrowly divided 100-member Senate, where Republicans hold 51 seats.
The requirement would be waived if the government stops using cash collected by Social Security's trust funds for other programs. That probably won't happen for many years because of today's enormous federal deficits.
By law, the trust fund's huge surpluses are invested in Treasury bills. With few exceptions, the cash has been routinely used for other programs for many years.
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