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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts
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To: Jorj X Mckie who started this subject10/26/2000 11:49:01 PM
From: Junkyardawg   of 63513
 
10/26 19:55
House Passes Tax Cut Bill Over Clinton's Veto Threat (Update3)
By Rob Wells

Washington, Oct. 26 (Bloomberg) -- The U.S. House of Representatives passed a 10-year, $240 billion tax cut package in the face of President Bill Clinton's threat to veto it.

The bill would benefit small businesses, exporters, investment companies and health maintenance organizations while expanding retirement savings and health care coverage. Clinton said health care, pension and Medicare provisions don't help low- and middle-income Americans enough.

The bill passed the House on a 237-174 vote. A few hours later, the Senate agreed to take up the bill tomorrow. Senator Max Baucus, a Montana Democrat, said he expects his colleagues to let the bill pass under protest and get vetoed -- after which Republicans would have to decide what parts of it to salvage.

House Majority Leader Dick Armey of Texas accused Clinton of playing politics with a bill that gave him most of what he wanted. ``Maybe what bothers you is this will pass so close to the election,'' Armey said.

The final version was written by Republicans as one of the year's last bits of legislative action. Congress could return next week to rework it, although several Republicans ruled out that possibility.
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