News: Analysis & Commentary: Congress

TABLE: The New Congress

When it comes to hashing out a business agenda, it's Main St. vs. Corporate

America

BIG BUSINESS

FARM SUBSIDIES Agribusiness counts on Senate Majority Leader Bob Dole,

longtime champion of farm interests, to repel GOP attacks on program.

AFFIRMATIVE ACTION Can live with antidiscrimination guidelines that may be

taken up by Judiciary Chair Orrin Hatch because they would protect corporations

from bias suits.

TAXES Multinationals want liberalized tax rules for intracompany transfers

and ratification of tax treaties to boost sales overseas.

EXPORT PROMOTION Hopes to preserve Commerce Dept. subsidies to market U.S.

products abroad. A key backer: Senate Appropriations Chair Mark Hatfield.

SMALL BUSINESS

FARM SUBSIDIES Favors eliminating subsidies, which House Majority Leader

Richard Armey assails as "welfare for the rich."

AFFIRMATIVE ACTION Sees guidelines as a costly infringement of employers'

hiring prerogatives. The chief defender: Senator Phil Gramm.

TAXES Favors House Speaker Newt Gingrich's tax agenda, including

repeal of 1993 tax

hikes on some small companies.

EXPORT PROMOTION Aims to kill off the subsidy program, arguing that

corporate beneficiaries--not taxpayers--should foot the bill.