Senate Votes Goals On Deficit Spending
The Senate passed, 69 to 2:i, Thursday a new budget resolution calling for a $74.8 billion federal deficit in the present fiscal year, $(> billion higher than Congress voted for in May, and a binding spending ceiling of $375.6 billion.</br></br>These figures compare with $367 billion in spending and a $68.8 billion deficit fixed in the May resolution.</br></br>The increases are almost wholly accounted for by so-called uncontrollables such as higher interest payments on the public debt, and boosts in unemployment compensation, veterans benefits and oilier entitlement programs.</br></br>The House, which passed its revised budget resolution earlier this month, provided for a $1.7 billion lower spending ceiling and a $2.7 billion smaller deficit than llie Senate.</br></br>The Senate resolution projects a $300.8 billion revenue floor for 1976. This would allow lor about $6.4 billion in addit ional tax cuts so that tax withholding rates in calendar 1976 can be held at 1975 levels.