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Bridge to the 21st Centu21

Bridge to the 21st Centu21 - .

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Bridge to the 21st Century The Clinton and Bush II years President Clinton nonetheless accepted the argument that open trade was ultimately  beneficial to all parties because it would lead to a greater flow of more efficiently  produced goods and services. His administration not only submitted NAFTA to the  Senate, it also backed the establishment of a greatly liberalized international trading  system to be administered by the World Trade Organization (WTO). After a vigorous  debate, Congress approved NAFTA in 1993. It would approve membership in the WTO a  year later. Although Clinton had talked about a “middle class tax cut” during the presidential  campaign, he submitted to Congress a budget calling for a general tax increase. It  originally included a wide tax on energy consumption designed to promote conservation,  but that was quickly replaced by a nominal increase in the federal gasoline tax. It also 
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  • Fall '10
  • President Clinton, liberalized international trading, middle class tax, general tax increase., federal gasoline tax.

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