Thursday’s House vote should be close, but analysts are predicting that Congress will be unable to collect enough votes to override Clinton’s veto of the controversial estate and gift tax repeal bill.
Some Democrats who voted for the bill initially are considering changing their votes. In addition, eleven Democrats who were absent from the original vote are expected to side with Clinton Thursday.
Worse news is that even if the House somehow manages to override the veto, the vote will be even closer in the Senate and predictions lean toward the veto being sustained in that chamber.
After the dust settles around the estate and gift tax bill, Congress will try again next week to override Clinton’s veto of the marriage penalty tax bill. No one expects that veto to be overridden in either chamber.
Part of the controversy seems to stem from the fact that no one in either house (including the White House) can agree on exactly how much budget surplus there is to go around for these various tax- and revenue-cutting measures.
The fall promises to provide some interesting debate over tax cuts, even if nothing gets accomplished in this election year.