House approves GOP budget bill; plan would cut trade, transport

The proposed budget bill of the Republican-controlled House, which seeks to balance the federal budget and ease the tax burden of Americans over a seven-year period, has been approved on May 18, 1995. The bill involves slashing some $1.4 trillion from the budget over seven years, much of which will be lopped off from trade and transport programs. Efforts to spare the transportation industry from reductions in funding and shift the cuts to other sectors have failed.