Republican-Led Congress Drives Tax-Cut Plan Over Clinton Veto Threat
August 7, 1999 - 0:0
WASHINGTON Shrugging off Democratic opposition and President Bill Clinton's veto threats, the Republican-led Congress Thursday approved a $792 billion tax cut. The Senate voted 50-49 for the measure -- which shaves $791.9 dollars in taxes over ten years -- late Thursday, following House passage by a 221-206 margin. Republican congressional leaders said they would trumpet the plan to the public during the month-long August recess -- which starts Friday -- before sending it to the president in September. Earlier, Clinton -- flanked by top Democratic lawmakers -- renewed his pledge to veto what he called a "misguided effort to provide special interest tax breaks and loopholes for the wealthiest and most powerful in our society." Democrats and the White House argue the funds would be better spent to shore up social programs -- including stretching the solvency of the federally administered social security retirement plan -- and paying down the $3.7 trillion U.S. national debt.
But a Clinton veto could arm Republicans with a theme that may well resonate with voters ahead of the 2000 elections, when both Houses of Congress and the presidency will be up for grabs. Republican congressional leaders argue that the surplus rightly belongs to taxpayers and reject charges that the ambitious tax-cut plan would cripple popular social programs. Both sides have been battling over what to do with the historic U.S. Federal budget surplus, estimated at three trillion dollars over the next 10 years.
Clinton and the Democrats have staked out a tax-cut plan of their own, while the White House has said the president will veto any cut higher than $300 billion. "What we say is deal with the big challenges first: deal with the aging of America, save social security, save medicare ... and get America out of debt for the first time since 1835 so our children can have a good economy too," Clinton said at a rally wi Republican congressional leaders argue that the surplus rightly belongs to taxpayers and reject charges that the ambitious tax-cut plan would cripple popular social programs.
(AFP)
But a Clinton veto could arm Republicans with a theme that may well resonate with voters ahead of the 2000 elections, when both Houses of Congress and the presidency will be up for grabs. Republican congressional leaders argue that the surplus rightly belongs to taxpayers and reject charges that the ambitious tax-cut plan would cripple popular social programs. Both sides have been battling over what to do with the historic U.S. Federal budget surplus, estimated at three trillion dollars over the next 10 years.
Clinton and the Democrats have staked out a tax-cut plan of their own, while the White House has said the president will veto any cut higher than $300 billion. "What we say is deal with the big challenges first: deal with the aging of America, save social security, save medicare ... and get America out of debt for the first time since 1835 so our children can have a good economy too," Clinton said at a rally wi Republican congressional leaders argue that the surplus rightly belongs to taxpayers and reject charges that the ambitious tax-cut plan would cripple popular social programs.
(AFP)