Another Tax Bill Bites the Dust | AccountingWEB

Another Tax Bill Bites the Dust

House Democrats sided with President Clinton Wednesday in failing to override Clinton’s veto of the marriage tax penalty. The vote was 270-158 meaning the override vote failed by only 16 votes of the required two-thirds majority necessary for the veto override. Forty-nine Democrats voted with the Republican majority to override the veto and 157 Democrats voted with the President.

House Majority Leader Dick Armey spoke out after the vote, saying, “Americans understand it is wrong to tax marriage. We will have to put it up on the floor next year and have a president who will sign it.” Ways and Means Committee Chairman Bill Archer chimed in, “[Americans] will have to vote for new leadership in the White House if they want fairness and justice in the tax code.”

Democrats contend the bill was a sham from the start. “You don’t want to pass laws. You want to pass bills that are going to be vetoed,” said Rep. Charles B. Rangel, D-NY. Clinton had made it clear from the start he would veto this bill.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.