November 4, 1992
TO: BOARD OF GOVERNORS NO. 78-92
MEMBERS - ONE PER COMPLEX NO. 38-92
RE: PRESIDENT ANNOUNCES TAX BILL VETO
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The President today issued a written announcement that he
would allow the 10 day period for signing the tax bill, H.R. 11,
to expire, thus resulting in its pocket veto. As we previously
informed you, this bill was passed by Congress on October 8, and
contained several provisions supported by the investment company
industry, including repeal of the 30 per cent test. The
Institute will work to ensure that these provisions are included
in any tax bill which is considered next year.
Matthew P. Fink
President