My Life, by Bill Clinton: on Tax Reform


Bill Clinton: Republican tax cut was too big & too bloated

I vetoed the Republican tax cut because it was “too big, too bloated,” and put too great a burden on America’s economy. Under the budget rules, the bill would have forced large cuts on education, health care, and environmental protection. It would have prevented us from extending the Social Security trust funds, & from adding a prescription drug benefit to Medicare. We were going to have a surplus this year of about $100 billion, but the proposed GOP tax cut would cost nearly $1 trillion over a decade
Source: My Life, by Bill Clinton, p.870 Jun 21, 2004

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Page last updated: Feb 19, 2019