June 23, 2000

Tax-Repeal Plan Could Cause Drop in Gifts

By SARA HEBEL

Charitable giving to colleges and universities might drop if legislation in Congress is enacted to phase out the federal tax on some estates, higher-education officials said last week.

But President Clinton said he would veto the proposal "without hesitation."

The president argued that the legislation, which is a priority for many Congressional Republicans, would be too costly to the federal government and would also disproportionately benefit wealthy

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