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BUDGET AMENDMENT'S FATE IN SENATE RESTS WITH SINGLE VOTE.


Byline: Associated Press

The balanced-budget amendment to the Constitution teetered on the brink Tuesday as a pivotal Democratic freshman endorsed the measure and one final uncommitted senator weighed a make-or-break decision.

``It's the right thing to do,'' Sen. Mary Landrieu, D-La., said in announcing she would vote for the Republican-crafted measure despite reservations.

Barring any last-minute switches, Landrieu's decision appeared to leave the fate of the amendment in the hands of Sen. Bob Torricelli, D-N.J., who pledged to disclose his decision today.

Torricelli supported the measure two years ago in the House. He has been uncommitted since his election to the Senate in November, even as the White House and Democratic leaders have lobbied him to oppose the measure now.

And at day's end, the White House addressed one of Torricelli's concerns when it quietly announced creation of a presidential commission to study capital budgeting
Capital Budgeting
The process of determining whether or not projects such as building a new plant or investing in a long-term venture are worthwhile.

Notes:
Popular methods of capital budgeting include net present value (NPV), internal rate of return (IRR), discounted cash flow (DCF), and payback period.

Also known as investment appraisal.
.

``I understand the enormity of the moment,'' Torricelli said as he pondered his decision.
COPYRIGHT 1997 Daily News
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Daily News (Los Angeles, CA)
Date:Feb 26, 1997
Words:160
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