House OKs spending cut in initial budget victory

In a budget victory for President Reagan, the House Wednesday slashed $13.3 billion from federal spending over the next three years by cutting deeply into federal pensions, dairy subsidies, and food stamps.

The Omnibus Reconciliation Act of 1982, the first major segment of the Reagan-backed 1983 budget resolution to approach final enactment, goes to the Senate for final congressional approval this week. Congressional leaders and the administration hope the passage of the spending-cut measure will build momentum in advance of congressional consideration of the $98.3 billion tax increase bill Thursday.