WESTERN VA. LAWMAKERS GIVE BILL THEIR BLESSING

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, February 28, 1992                   TAG: 9202280104
SECTION: VIRGINIA                    PAGE: A-1   EDITION: METRO 
SOURCE: DANIEL HOWES
DATELINE: WASHINGTON                                LENGTH: Short
WESTERN VA. LAWMAKERS GIVE BILL THEIR BLESSING
Western Virginia lawmakers joined ranks with their Democratic colleagues Thursday, backing a tax bill they hope will spur investment and shore up flagging consumer confidence.
"I don't think we're going to correct the recession by minor tax manipulations," Rep. Jim Olin, D-Roanoke, said after casting his vote. But "I think [the plan] will do more good than harm."
Rep. L.F. Payne, D-Nelson County, agreed. "The worst thing that could happen now is for Congress to be unable to act, and [then have] the people perceive the Congress and the president as unable to act.
"The big issue we've got to talk about," Payne said, "is reducing the deficit, increasing national savings and increasing the nation's productivity."
Tax cuts to middle-income Americans - generally $400 per taxpayer over two years - are less important to easing the economic slump gripping the country than the bill's business incentives, Rep. Rick Boucher said.
The Abingdon Democrat hailed the investment tax credits and improved depreciation schedules for business equipment included in the bill, though he would have liked to see them broadened.
"I'm interested in the long-term growth interests of what we do," he said, calling the bill "not perfect."

by Bhavesh Jinadra by CNB