Clinton
and Gore More Concerned With Politics Than People, Veto Marriage
Penalty Tax Relief Act of 2000
Clinton and Gore try to bury issue by vetoing
on Saturday
WASHINGTON-
On Saturday Aug. 5 President Clinton vetoed the Marriage Penalty
Tax Relief Act of 2000. The bill, which passed the House and
Senate with Republican and Democrat support alike, would relieve
25 million married couples of the unfair marriage tax penalty.
Grover
Norquist, President of Americans for Tax Reform, issued the
following statement regarding the Clinton/Gore veto of the Marriage
Penalty Tax Relief Act of 2000:
"Rather
than doing what is right for America, Bill Clinton and Al Gore
decided to continue to engage in class warfare and veto the
bill that would eliminate the marriage penalty for millions
of married couples across America.
"Clearly
Clinton and Gore are more concerned about politics than people,
especially working families. With a simple stroke of the pen,
he cost 25 million taxpayers $89.5 billion.
"While
Clinton and Gore argue this is a risky tax cut, the fact is
the elimination of the marriage penalty equates to about four
percent of the projected non-Social Security surplus."
The
Marriage Penalty Tax Relief Act of 2000 would:
1.
Double the standard deduction for married couples filing jointly
so that t is equal to twice the standard education for single
filers.
2.
Double the 15% Income Tax Rate by expanding the lowest tax
bracket (15%) to twice that of the corresponding bracket for
single filers.
3.
Increase the Earned Income Credit (EIC) for low-income married
couples and make more couples eligible for EIC assistance.
4.
Extend treatment of refundable and nonrefundable credits for
Alternative Minimum Tax (AMT) Calculations.
