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News > Economy
Deal reached on welfare bill
July 30, 1996: 8:57 p.m. ET

House and Senate Republicans produce compromise on welfare reform
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WASHINGTON (CNNfn) --- House and Senate Republican negotiators have produced a compromise welfare reform bill designed to change welfare as the nation has come to know it over the past six decades.
     Lawmakers hope to save $60 billion through reforms in assistance programs including Food Stamps and Aid to Families with Dependent Children.
     The last sticking point -- limits on food stamps -- was resolved by setting a 3-month limit for food stamp recipients, ages 18 to 50, every 36-month period if the recipient is able to work and has no dependents. In the event of a lay-off, the 36-month period would start again.
     President Clinton has not said whether he will sign the legislation. He has already vetoed two previous welfare reform bills. Senate Democrats will hold a meeting with Chief of Staff Leon Panetta Wednesday morning to discuss the bill.
     The House will begin debate on the compromised measure Wednesday. Back to top

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.