House GOP Passes Repeal of Social Security Tax
Wall Street Journal (07/28/00) Vol. 28, No. 15 p.A2; McKinnon, John D.

Republican leaders in the House rallied enough votes to abolish a tax affecting the Social Security benefits of higher income seniors, but President Clinton is promising to veto the repeal. In a 265-159 vote, the House GOP was able to push through the repeal. The win ought to provide some momentum as Republicans head into the Philadelphia presidential convention. President Clinton called the repeal "misguided," noting that it only benefits 80 percent of seniors and spends down the surplus. However, many Democrats disagree with the president. Those House liberals who cast their lot with the House GOP did so with the conviction that repealing the tax would cost less than other taxes the GOP hopes to cut this year. But House Republicans were not completely unselfish in their gesture. The upcoming election promises to showcase Social Security as a major theme, and Republican strategists are hoping the repeal of the Social Security tax will help capture the White House.

Back   | Home   |  News Archive