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Congress OKs budget blueprint

The House OK'd a 5-year budget plan by a 214-209 vote; the Senate approved it 52-40. It includes $2.9 tril in '08 outlays and could set up a clash with the White House over increased domestic spending. The nonbinding plan achieves a surplus by 2012. But it relies on revenue that would come from ending tax cuts for top brackets, capital gains and dividend tax cuts, as well as phasing out relief from the alternative minimum tax.

Indictments issued in gun probe

A Salt Lake City grand jury indicted 4 people in connection with the sale of firearms to a teenager used to kill 5 people at a shopping mall in Feb. before dying in a shootout with police. Three were charged in the illegal sale of a .38-caliber handgun and a gun dealer was charged in the sale of a shotgun with a pistol grip, which can only be sold to people at least 21 years old.

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Author:Investor's Business Daily
Publication:Investors Business Daily
Date:May 17, 2007
Words:162
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