THE BUDGET IMPASSE : So Many Bills . . .
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Three complicated pieces of legislation are ensnarled in the budget standoff between President Clinton and the Republican Congress. Here is where they stand:
LEGISLATION
Continuing resolution: would sllow the government to spend money on its operations because Congress is behind in passing its regular appropriations bills for fiscal year 1996.
STATUS: A meeting at the Capitol failed to resolve the impasse. Hundreds of thousands of federal workers were sent home.
LEGISLATION
Debt-limit extension: would raise the government’s ability to borrow money so that it can meet interest and principal payments that are coming due, possibly today.
STATUS: Vetoed by Clinton on Monday. Treasury Secretary Robert E. Rubin averted default by dipping into two trust funds for federal worker pensions and selling short-term securities. Further legislative action remained uncertain.
LEGISLATION
Budget reconciliation bill: a mammoth measure that would cut taxes, reduce growth in benefits and bring the budget into balance by 2002.
STATUS: House-Senate conference committee ironing out final differences between two versions of the bill. Republicans’ hopes of sending a bill to Clinton by week’s end are growing slim. Veto promised by Clinton.
Source: Times staff and wire reports
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