WASHINGTON - The White House yesterday proposed a $9.1 billion budget-cutting bill that would authorize the sale of the Alaska Power Administration and permit the Bonneville Power Administration to refinance $4 billion of Treasury debt as private, taxable bonds.

The bill is designed to be the focal point of a larger debate over spending cuts in Congress this fall. It will get fast-track consideration in both the House and Senate because President Clinton during this summer's budget debate promised to submit such a bill in return for the votes of key conservative Democrats for his $500 billion budget package.

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