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.