House and Senate committees are expected this week to continue to review the fiscal 1998 budget request that President Clinton sent up last week.
Treasury Secretary Robert Rubin will testify before the Senate Budget Committee this afternoon, while Office of Management and Budget Director Franklin Raines will testify before the House Budget Committee Tuesday. On Thursday, Congressional Budget Office Director June O'Neill will present her evaluation of the Clinton budget to the House Budget Committee.
That same day, the Senate Budget Committee will hold a hearing on the proposal of Chairman Pete Domenici, R-N.M., to convert the budget process to a two-year cycle.
On another budget-related front, the Senate Finance Committee Tuesday will hear more testimony about an independent commission's recent conclusion that the consumer price index, as currently structured, overstates the cost of living by about 1.1 percent and that pay adjustments tied to the CPI should be revised downward.
Bureau of Labor Statistics Commissioner Katherine Abraham is among those scheduled to testify.
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