I think it is a harbinger of that which is a historic piece of legislation which when we enact it, as we will, will complete the second installment on the Republican Contract With America. Together with the balanced budget amendment and entitlement reforms, this bill provides much needed reform of Congress' bloated tax-and-spending habits. H.R. 2 gives the President line-item veto authority over discretionary appropriations and targeted tax benefits. The bill allows the President to reduce or eliminate any discretionary spending specified in an appropriations bill or accompanying report, and to veto any tax benefit which he determines would benefit 100 or fewer taxpayers. Under H.R. 2, the President will have 10 days after signing an appropriation or revenue act to submit to Congress a special message identifying his rescission or veto proposals.
Editor's note · Context
Discussing the line-item veto legislation H.R. 2 during a House floor speech.
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