Clinton Veto? Jude Wanniski October 26, 2000

The decline in the market has followed the rumors of a Clinton veto of the omnibus bill which contains all the little supply-side tax cuts. The market rebounded, we think, with reports that the House-Senate conferees will go back into the bill and tweak it, to give the President the language he wants for construction bonds (to build schools) that the labor unions so desperately want. We promised big swings this week, didn't we? We still think the legislation will make it, as a veto would not help Gore at all, and it may be all Clinton really wants is for a few more tidbits that the conferees should be able to provide.