House Fails to Override Clinton's Veto of Bill to
Knight Ridder/Tribune News Service (09/08/00) Vol. 110, No. 10 p.44; Koszczuk, Jackie

The House effort to override the presidential veto of a bill that would repeal the estate tax fell short by 14 votes Thursday, as Democrats joined together to back Clinton's veto even though some had voted in favor of the bill before. Taxpayers, particularly those who do not use accountants and attorneys to work around the estate tax, sometimes have to sell businesses and farms when the owners die; this has led Republicans to say the tax is a punishment for success. Had the bill been upheld, the government would have lost out on about $104 billion in tax revenue during the 10-year phaseout of the tax.

Back   | Home   |  News Archive