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Clinton vetoes death
tax repeal
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Release Date:
09/01/00
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The president of NFIB
today called the Clinton/Gore veto of bipartisan
legislation to repeal the unfair and
anti-American death tax a stab in the heart of
America's small business owners.
Today,
President Clinton, with Vice President Al Gore's
strong support, vetoed the bipartisan Death Tax
Elimination Act. In June, the bill passed the
U.S. House of Representatives with a veto-proof
majority -- including 65 Democrats-- and the
Senate with a near veto-proof
majority.
President Clinton blatantly
ignored the united cries of small, family-owned
businesses to put an end to this punitive,
unfair tax, said NFIB President Jack Faris.
Sadly, this administration allowed election-year
partisanship stand in the way of common-sense
legislation. Today, the losers are the millions
of small family ranchers, farmers and business
owners who are most hurt by this anti-American
tax.
Faris pointed out that not only does
the death tax affect many small businesses, it
also has a negative impact on the nation's
economy. According to a 1996 Heritage Foundation
study, repeal of the death tax would lead to
larger federal revenues due to increased
economic growth. In addition, the Wall Street
Journal reported in 1999 that 200,000 extra jobs
could be created each year with money that small
family-owned farms and businesses currently
spend on paying or preparing for the death
tax.
The House is slated to vote to
override the president's veto the week of
September 4. NFIB has called upon its 600,000
members to contact their Representatives and
urge them to override the president's veto. With
an average of 1,200 members per congressional
district, NFIB's grassroots army is united in
its opposition to the death tax and is prepared
to hold candidates accountable on Election Day
-- from local congressional races to the
presidential campaign.
"This fight is
far from over," Faris said. "America's Main
Street business owners, family farmers and
ranchers will not rest until the death tax is
buried once and for all."
9.01.00
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