Clinton threatens veto of tax relief package that helps working Americans

WASHINGTON- On Thursday President Clinton surprised Congressional Republicans when he threatened to veto the 10 year, $240 billion tax relief package that was passed by the House and is likely to be passed by the Senate.

The tax relief package contains a variety of tax cuts and savings incentives, including an increase in the limit on contributions to IRAs and 401(k) s, a minimum wage increase, small business tax credits, and tax credits to help spur growth in blighted urban areas. 

In the days leading up to the final House passage of the bill, the President had seemed to indicate that he would sign the bill into law, albeit somewhat grudgingly.

Damon Ansell, vice president of policy at Americans for Tax Reform, issued the following statement regarding Clinton\’s threatened veto of this tax relief package:

"This was a surprise to nearly everyone.  Nearly everyone expected the President to sign this tax relief package into law.  Earlier in the week, it appeared that the informal negotiations between the President and Speaker of the House Dennis Hastert were cordial and it seemed this package was going to be passed by Congress and signed by the President.

"It appears that Clinton has decided to politicize this tax package by playing up aspects of the package as it related to increased Medicare spending and immigration policies.  We think it will be very unfortunate if the President doesn\’t sign this tax relief package into law because it is good for working Americans."