31.   An adjustment down of the index could save the government billions in federal payments, but would reduce the rate of growth for numerous popular programs.

32.   And as tax cutting has become a national priority, states have felt pressure to reduce tax rates to remain competitive with their neighbors.

33.   An important part of the explanation, as he noted, is that while the Fed has reduced short-term rates, long-term rates have stayed stubbornly high.

34.   Analysts are evenly divided as to whether the Fed will reduce rates at the FOMC meeting.

35.   An economic research group cautions that a rush to reduce electric rates by making the utility industry competitive could backfire if supply shortages occur.

36.   Analysts widely believe the Fed will pass up the chance to reduce rates at itsnext meeting, because of uncertainty of the budget negotiations between President Clinton and Congress.

37.   And I will work with members of the Congress from both parties to reduce tax rates for everyone who pays income taxes in America.

38.   And most of the conservative flat-tax proposals would reduce tax rates on dividend and interest income, raising the after-tax return on capital.

39.   Another expected effect was to reduce insurance rates for consumers.

40.   Another change would reduce the rate of interest paid on overpayments of taxes by corporations.