QUAYLE OFFERS NO SPECIFICS ON TAX CUTS
Ten days after President Bush promised an across-the-board tax cut if reelected, Vice President Dan Quayle said Sunday he did not have the specifics of the plan - but his challenger, Sen. Albert Gore Jr., called it an "incoherent" scheme that caused the dollar to plummet.
"I don't have a number this morning to put into it," Mr. Quayle said on CBS's "Face the Nation" when asked about the size of the Bush tax cut.
"The important thing is the president is for cutting taxes," Quayle said. "Bill Clinton is for raising taxes."
On ABC's "This Week with David Brinkley," his Democratic vice presidential challenger, Tennessee Senator Gore, said financial markets thought Bush's tax plans "incoherent" and as a result sent the dollar plunging in international foreign-exchange markets against the German mark.
In his acceptance speech at the Republican nominating convention in Houston, Bush promised an across-the-board income-tax cut coupled with unspecified spending reductions and also a plan to let taxpayers devote some of their tax dollars to federal debt reduction.
"It was incoherent. The campaign said coherence can come later, but the markets want coherence now," Gore said. "Immediately after ... that speech, not only did the dollar reach all-time record lows against the mark, but consumer confidence went down again."