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Senate Passes GOP Marriage Penalty Tax Cut
From IBD News Services WASHINGTON - The Senate passed a "marriage penalty" billTuesday that would provide $248 billion in tax relief over 10 years, a centerpiece of the Republican drive for election-year tax cuts.
President Clinton has threatened to veto the measure, saying the 10-year cost to the Treasury is too high and would mostly benefit the rich.
The vote was 60-39 to approve the bill, not enough
to override a presidential veto. The measure now heads for negotiations between the House - which previously passed a $182 billion version - and Senateon a final measure that could go to President Clinton this week.
Among other things, GOP leaders want to modify the bill by using …