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COPYRIGHT 2001 The Dallas Morning News
May 25--Businesses scrambled Thursday to assess the impact of the shift in control of the U.S. Senate to the Democrats, following the defection from the Republican ranks of Sen. James Jeffords of Vermont.
The change in leadership in the Senate is unlikely to have any immediate effect on the economy, analysts said. But over the long term, they said, it may lead to policies that would have far-reaching effects on individual industries and companies.
"There are not that many broad economic impacts," said David Wyss, chief economist at Standard & Poor's Inc. in New York, noting that Congress will probably approve the $1.35 trillion tax bill. "The big impact is going to come from the tax bill, and that does not look like it is going to be affected by this."
The power shift was a disappointment for many in the nation's business community, some of whom had been celebrating in recent months the GOP's first sweep of the legislative and executive branches since Dwight D. Eisenhower won the presidency in 1952.
"I think it's very unfortunate to turn the Senate back to the Democrats," said...
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