Cuts predicted in '84 budget
Congress will significantly reshape the Reagan administration's proposed federal budget for fiscal 1984, reducing increases in defense spending and enacting new tax measures to raise revenues, according to a Conference Board report released Tuesday.
The emerging budget should reflect a determined effort to hold down proposed federal deficits, which would likely remain in the $190 billion-to-$195 billion range all the way through fiscal 1985 if the administration's budget were approved as proposed. The analysis expects the administration's request for a 10 percent increase in real defense spending to be limited to about 6 percent. It also anticipates that new tax measures will raise about $15 billion in additional revenues and that outlays for a variety of domestic spending programs will be restored.