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WASHINGTON.(A)

Investor's Business Daily

| February 01, 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

First Bush Cabinet meeting ends

with tax cuts, 'lean budgets' call

President Bush called for "lean budgets" and good stewardship of Americans' money as Democrats and Republicans coalesced around the idea of a tax cut but differed on its size. "I am going to talk a little bit about reminding people that a dollar spent is somebody's money," Bush said. Forecasts of a $3.12 trillion surplus over the next decade prove "there's enough money" for debt

repayment, more spending and tax cuts, he added.

House Democrats offer own plan

on education, sans any vouchers

The Democratic bill, introduced by Rep. George Miller of California, the ranking Democrat on the House Education Committee, would increase public schoolfunding by $110 billion over five years. Democrats said that compares to Bush's 10-year, $47.6 billion reform package. Like the Bush plan, Miller said the Democratic plan would reward school districts that boost academic performance while punishing those that fail to improve after three years. "There's a great deal of overlap and agreement," Miller said, urging the Republican president to abandon his private-school voucher initiative.

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