I thought the President only approved legislation that had been passed by
the Senate and House.  Am I mistaken?

John Lee



At 01:26 PM 10/22/04 -0400, Michael Baier wrote:
>if George gets elected, he gives all money to his "friends" and lets our
>grand-children pay for it.
>A deficit of over 467 Billion and he dares giveaway another 140billion to
>his friends.
>Wonder why he didn't sign that bill infront of a huge audience.
>This is what fellow Republican McCain calls it.
>"the worst example of the influence of special interests that I have ever
>seen."
>
>
>Without Fanfare, Bush OKs Corporate Tax Cuts      By Adam Entous
>
>WASHINGTON (Reuters) - Without fanfare, President Bush signed into law on
>Friday a nearly $140 billion corporate tax cut bill derided by both
>Democratic presidential rival John Kerry and Republican Sen. John McCain as
>a giveaway to special interests.
>
>Bush signed the measure into law aboard Air Force One en route to a
>campaign rally in Pennsylvania, forgoing a public signing ceremony that
>would have attracted attention to the tax cuts less than two weeks before
>Election Day.
>
>The White House had marked the signing of Bush's other major tax bills with
>lavish public ceremonies. This one was marked with a one-paragraph
>statement by the press secretary.
>
>Asked why there was no signing ceremony for the corporate tax bill, White
>House spokeswoman Claire Buchan said: "There are a variety of ways the
>president signs legislation."
>
>The corporate tax bill aims to end a trade fight with the European Union by
>repealing U.S. export tax subsidies that violate global trade rules.
>
>But the $140 billion in new business tax breaks included many special
>interest provisions sharply criticized by public interest groups and fiscal
>conservatives, which congressional aides said explained Bush's decision to
>sign it in private.
>
>Sen. John McCain, an Arizona Republican who is campaigning for Bush, had
>called the measure "the worst example of the influence of special interests
>that I have ever seen."
>
>Kerry campaign spokesman Phil Singer said: "George Bush (news - web sites)
>filled the bill up with corporate giveaways and tax breaks for
>multinational companies that send jobs overseas."
>
>Singer said the Massachusetts senator's first budget, if elected, would
>call for the repeal of "all the unwarranted international tax breaks that
>George Bush included in this bill."
>
>But the White House's Buchan defended the measure: "The president believes
>it will help American workers and help improve the competitiveness of
>American manufacturers and other job creators."
>
>The legislation would repeal illegal export subsidies and lower taxes rates
>for domestic manufacturers to 32 percent from the top corporate rate of 35
>percent.
>
>The bill also includes a $10 billion industry-financed buyout for tobacco
>farmers.
>
>The bill also includes tax breaks for U.S. multinational companies, some of
>which critics say will encourage companies to ship jobs overseas.
>
>A one-year tax holiday for multinationals was included that will allow them
>to return billions of dollars in profits back to the United States at a
>dramatically lower 5.25 percent rate instead of the normal 35 percent top
>corporate rate.
>
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