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February 21, 1993


By CBR Staff Writer

Sitting beside Hillary Clinton, Apple Computer Inc chairman and technology guru John Sculley enthusiastically applauded the president’s proposals to hike taxes and cut the budget deficit, the Associated Press reports: President Clinton’s plan includes a two percentage point hike in the corporate tax rate, a permanent investment tax credit for firms with revenues under $5m and a temporary credit for larger firms, and a permanent research-and-development credit; it calls for funding increases for Commerce Department technology projects, Labor Department worker training programmes and support for free-trade initiatives such as the North American Free Trade Agreement, but it is only a proposal – remember in the US, the President proposes, but Congress disposes.

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