Description:

(b. 1946) Forty-second President of the United States, the first elected president to be impeached. A WARM LETTER TO DAN ROSTENKOWSKI: "YOU'VE BEEN A CRITICAL FORCE IN HELPING TURN THE TIDE ON THE DEFICIT..." Extraordinary content A.L.S. "Bill Clinton" as President on White House letterhead, 1p. 4to., Washington, Oct. 19, 1993 to "Mr. Chairman", powerful Democratic House Rep. DAN ROSTENKOWSKI (1928-2010) who was chairman of the House Ways and Means Committee. Clinton opens his letter politely declining Rostenkowski's invitation to dinner the same night. He continues: "...I am very grateful for your friendship and your leadership - you've been a critical force in helping to turn the tide on the deficit and all the other reforms in [sic] reconciliations including real help for lower income working families with children, and much needed improvement and expansion of the college loan program. If everyone wanted to face our problems and make progress as badly as you do, we could turn our country around much more quickly..." Fine condition. Clinton wrote this letter shortly after the passage of the Omnibus Budget Reconciliation Act of 1993, Public Law. 103-66 (August 10, 1993). This act increased individual income tax rates and added two new brackets at the top of the earnings scale. The Act also increased the tax rates for the alternative minimum tax (AMT), while increasing the corporate tax rate to 35%. In addition, the gasoline tax was increased by 4.3 cents per gallon and the 2.5 cents per gallon motor fuels tax was extended. The 1993 Act also increased the earned income tax credit (EITC) and extended it to low-income single workers with no children. With this historic act in hand, Clinton was able to balance the federal budget for the first time in decades. He would remember Rostenkowski's service, pardoning him for his corruption convictions at the end of Clinton's second term. From the posthumous sale of Rostenkowski's papers.

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July 31, 2019 10:00 AM EDT
Elkton, MD, US

Alexander Historical Auctions LLC

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