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Economy: Budget #572030

NBC Evening News for Friday, Oct 26, 1990
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(Studio: Jane Pauley) Report introduced.

(Irvine, California: John Cochran) Another day involving the budget deal featured; scenes shown of President Bush on the campaign trail in Irvine, California. [BUSH - says it will be best budget deal possible.] [White House Chief of Staff John SUNUNU - talks about reduction package.] Negotiations between Congress and president's representatives reviewed; scenes shown from Capitol Hill. [In Los Angeles, BUSH - speaks about budget.] [Representative Robert MICHEL - comments.]

(Studio: Jane Pauley) Report introduced.

(Washington: Irving R. Levine) Treasury Department figures on the deficit examined; deficit numbers outlined on screen. [Congressional Budget Office Robert REISCHAUER - talks about budget and deficits.] Likely impact of new taxes on economy cited. [American University Thomas DIBACCO - compares raising of taxes by President Herbert Hoover in 1930's and by Bush now.] Deceptive nature of Gramm-Rudman Law explained.

(Studio: Jane Pauley) Update given on plight of National Equity Fund, program in which corporations get tax credits for building low- income housing that was discussed in Tuesday's What Works report.

Levine, Irving R.;
Cochran, John;
Pauley, Jane

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