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Congress Returns; Budget Questions Didn't Get Recess.(A)
Byline: AP
President Bush, back at work with Congress, played down the end-of-summer budget dilemma that has Republicans pondering more tax cuts and Democrats warning of a crisis in Social Security.
The White House said Bush would wait until next year's budget cycle to consider Republican calls to reduce the tax on capital gains.
"If Washington would only prioritize, we've got plenty of money to spend in Washington, D.C.," he said.
Squeezed by a shrinking budget surplus and a limping economy, Bush met Tuesday with Senate Republican leader Trent Lott to plot strategy for what promises to be a contentious fight over the 13 spending bills that the House, Senate and president must approve in order to keep the government running after Sept. 30.
Tax Cuts Gaining?
Republicans, particularly in the House, want Bush to support a cut in the capital gains tax, believing it will stimulate the economy. Lott, R-Miss., is considering whether to propose linking a capital gains tax cut to a Democratic-backed minimum wage increase.
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