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Investor's Business Daily

| May 02, 2001 | COPYRIGHT 2001 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

House, Senate Republicans

Agree To $1.35 Tril Tax Cut

1The deal struck by leading Republicans shrinks President Bush's proposed 10-year, $1.6 trillion tax cut by $350 billion. Unlike Bush's initial plan, thedeal adds $100 billion in cuts that would go into effect this year and in 2002. Bush called the accord "a great day for the American people and the American taxpayer." Key moderate Democrats appeared to be lining up behind the tax-cut deal. More on A9

Bush Makes It Official --

Commits To Missile Shield

2President Bush said the U.S. must protect itself from rogue nations and accidental launches. He called the 1972 Anti-Ballistic Missile treaty, which prohibits large-scale missile defenses, a Cold War relic. Bush said the treaty ignores technological breakthroughs made since then. He offered unilateral nuclear arms cuts to sweeten the deal for Russia, which opposes the program. Senate Minority Leader Tom Daschle, D-S.D., said, "There hasn't been a shred ofevidence that this works."

Spree Of Afternoon Buying

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