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By Compiled From Wire Service Dispatches With Analysis From Monitor Correspondents Around The World; Edited By Cheryl Sullivan

June 8, 1983

The White House has rejected a proposal by House Speaker Thomas P. O'Neill Jr. to limit July's income tax cut to $700 a taxpayer. Mr. O'Neill said the plan would help to hold down the federal deficit, but a White House spokesman said President Reagan will veto any bill raising taxes.