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November 08, 1996 - Image 5

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The Michigan Daily, 1996-11-08

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The Michigan Daily - Friday, November 8, 1996 - 5

Jdemocratic National Committee returns more big contributions

The Washington Post
WASHINGTON -The Democratic National
Committee yesterday returned its second large
contribution in two days, bringing to $750,000
the amount the party has been forced to give
back since scrutiny of fund-raising tactics began
last month.
The DNC said it returned $50,000 given by
eorge Psaltis, a Greek citizen who is the sole
owner of an import-export company here. It said
it didn't realize at the time it took the money last
summer that Psaltis was not a U.S. citizen and

that his company, Psaltis Corp., didn't have
income from operations here.
The DNC also acknowledged that it improp-
erly put a corporate check from the company
into its federal account, where corporate dona-
tions are illegal. This election, the DNC has
faced a serious shortfall in its federal account,
which is used directly on behalf of the president
and congressional candidates.
DNC press secretary Amy Weiss Tobe said the
contribution was "brought to us by a profession-
al employee of Hogan & Hartson," a large

Washington law firm with close ties to the
Clinton administration. The firm is also repre-
senting DNC fund-raiser John Huang, whose
role in party fundraising has come under intense
scrutiny in recent weeks.
Tobe said that while there was "no reason to
question the legality of the contribution at the
time it was made," the firm "came back to us a
few days ago and indicated that the contribution
was inappropriate."
In FEC records, the Psaltis Corporation listed
its address care of Hogan & Hartson and George

Psaltis identified himself as a property manager
with the same address as the law firm.
In a cryptic statement yesterday, Hogan &
Hartson said an unnamed lawyer at one of the
firm's offices in the United States "assisted a
client, the Psaltis Corp., a U.S. company that
wished to make contributions to the DNC. Later,
the firm and the client reviewed the question
whether the contributions should have been
made and suggested that they be returned, which
they were."
A source familiar with the contribution said

Christine Warnke, a lobbyist with the firm,
brought in the donation. Warnke did not return
phone calls to the office for comment.
The DNC has been in the throes of a controver-
sy of the legality of some of its donations for a
solid month. At the DNC's request, the Federal
Election Commission is investigating several con.
tributions handled by one of its star fund-raisers,
John Huang, who has been stripped of his fund
raising duties. Republicans have asked Attorney
General Janet Reno to appoint an independent
counsel to investigate possible criminal violationis

Road to 2nd term paved with promises
Both parties have second chance for action, compromise

IOUs from president to citizen start
coming due.
Tax breaks for children, college-
bound students and home sellers top the
list of President Clinton's cash-in-your-
pocket promises, alongside commit-
ments to balance the budget, add police
d take some of the sting out of wel-
are reform.
The list includes what would essen-
tially be a new entitlement for poor and
middle-income families: $1,500 to pay
for a first year of community college or
finance a portion of the higher costs of
All of that requires approval from a
still-Republican congressional majori-
ty, a prospect conveniently overlooked
in the Clinton campaign but a looming
1allenge now.
The focus on balancing the books is
supported by a recent record of deficit
reduction on both sides and officials
have been quick to emphasize that tar-
get will hold. "We've got to balance the
budget by ... 2002," said Clinton
spokesperson Mike McCurry.
More broadly, McCurry says that "on
many issues, Republicans and
emocrats see eye to eye."

Still, that does not assure achieve-
ment. More than a year ago, Clinton
and House Speaker Newt Gingrich
shook hands to launch campaign
finance reform and nothing happened.
Now both parties again promise
action, and the
final days of the P -

with corporate tax increases that
Republicans would be reluctant to swal-
All such complexities were set aside
in the campaign as Clinton promised
great strides in education, selected tax


campaign saw b
Clinton echoing we VId
Dole's proposaln
to restrict unlim- balance
ited soft money
and ban foreign by =
Already com-
plications are ris- Clint
ing. GOP leaders
have taken one
likely item of dispute with Democrats
- banning the use of mandatory union
dues for political action - and indicat-
ed they will make it a prerequisite for
Similarly on taxes, Clinton and the
Republicans both want cuts but differ
so substantially on the size of them
and how they would be paid for that
no tax relief can be assumed at this
Clinton would pay for his cuts in part

e got to
the budget
02 "
Mike McCurry
ton spokesperson

cuts and a bal-
anced budget,
and set out
other markers
by which he
will be judged
"We must
make two years
of college just
as universal in
four years as a
high school

tax deduction of up to $10,000 a year
for college expenses.
A tax credit for pre-teen children
starting at $300, rising to $500 and
expiring in 2000. Republicans favor a
tax credit for children up to age 18.
Capital gains tax cut exempting up
to $500,000 in profits for married cou-
ples who sell their homes. The exclu-
sion would be $250,000 for singles.
Republicans favor a broader capital
gains tax cut.
Penalty-free withdrawals from
Individual Retirement Accounts for
first home purchases, college tuition,
major medical expenses or during
long-term unemployment, and a dou-
bling of income limits for tax-
deductible IRA contributions. Dole
largely agreed.
Expanding work leave for visits to
doctors' offices and parent-teacher con-
Expanded Internet links to "every
classroom" by 2000.

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Time: 4 pm-6 pm
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education is today," he vowed.
Among his promises:
A $1,500 tuition tax credit for
the first year of post-secondary edu-
cation, to be repeated the second
year if the student maintains at least
a B average and is not caught with
drugs. It would start to be phased out
for family incomes over $80,000 and
eliminated for family incomes above
For those not taking the credit, a

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