1988 U.S. BUDGET CLEARED BY COMMITTEE
A joint House-Senate committee
formally approved a 1988 budget plan certain to touch off a
battle with President Reagan over taxes and defense.
    The budget, a compromise of earlier House and Senate
budgets, was negotiated yesterday by House and Senate
Democratic leaders.
    The plan, slated for House action next Tuesday, would
reduce next year's estimated 171-billion-dlr deficit to about
134 billion dlrs.
    It proposes 19 billion dlrs in new taxes next year and cuts
Reagan's defense mark.
 Reuter
