Nation

The Senate Finance Committee, completing action on one of the most difficult parts of its tax-overhaul plan, agreed to a compromise that would permit state and local governments to issue more tax-exempt bonds than under present law. The bonds package would result in federal revenue losses of about $5.6 billion over the next five years. In contrast, the tax plan recommended by President Reagan would have restricted issuance of such bonds to an extent that would have increased revenues by $15.1 billion. The House plan would have brought in $3.1 billion.