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President Reagan announced formation of a task force on regulatory relief "to cut away the thicket" of federal laws affecting business and industry, Monitor correspondent Richard J. Cattani writes. He assigned Vice-President George Bush as chairman -- his first official assignment.

An early obvious target of the task force is the Clean Air Act. The government" must find the balance between protection of the environment . . . and cost and growth," Mr. Bush said. The tas k force is to develop proposals and issue a report.

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