WRIGHT SAYS TAX RISE NEEDED TO CUT U.S. DEFICIT
House Speaker James Wright said
President Reagan should realize that there will be no way to
meet the deficit reduction targets in the 1988 budget without a
tax increase.
    "In my judgment there isn't any way to achieve the commanded
reductions in the deficit without some additional revenue," the
Texas Democrat told reporters before the opening of the House
session.
    Wright said the Democrats intended to make the additional
tax burden fairer than was Reagan's plan for 22 billion dlrs in
additional revenues in the 1988 budget.
    "It's not a question of whether new revenue is needed, it's
a question of who has to pay," Wright said.
    He has opposed deficit reduction proposals included in
Reagan's budget which would raise fees on medicare recipients,
tax black lung benefits and reduce tax breaks for home
purchases.
    Wright has sought to delay the 1988 income tax rate cut but
has said other options such as a tax on securities transfers
were merely floated as possible deficit reduction alternatives.
    "There has to be a recognition of reality," he said.
 Reuter
