WASHINGTON - House Republicans appear to be resurrecting a proposal to create an enhanced tax-deferred savings account that municipal market participants have warned could harm demand for tax-exempt bonds.

The Republicans, proposal for so-called American Dream Savings Accounts is part of an ambitious 1995 agenda they unveiled yesterday on the steps of the U.S. Capitol. The plan also includes tax credits, a balanced budget amendment, and elimination of unfunded federal mandates.

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