House Fails to Override Clinton’s Veto of Estate Tax Relief Bill

The House failed to override President Clinton’s veto of the estate tax bill that would have provided relief to family-owned trucking companies beginning next year.

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The Sept. 7 vote was 274-157 to sustain the veto. By law, both the House and Senate must muster a two-thirds majority to override a presidential veto.

President Clinton vetoed the repeal measure Aug. 31, saying it would drain money away from the Treasury that could be used to reduce the debt and provide financial stability to Medicare. Republican leaders immediately pledged to seek an override.

Supporters for the repeal of federal taxes on inheritances, also called the estate tax, said that while the bill is dead, the issue isn’t.

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