In the 1980s and early 1990s, presidents ronald reagan and george h.w. bush called for a constitutional amendment that would give the president a veto. After years of debate, Congress rejected the idea of passing such an amendment and approved the Confederacy`s veto in a law known in 1996 as the Line-Item Veto Act (2 U.S.C.A. No. 691-692). The law gave the president the opportunity to remove certain tax and spending measures contained in federal legislation. Will lenders and financiers retain the last veto if the exercise of rights and the removal of restrictions depend on their consent? A veto – in Latin for „I keep“ – is the power to unilaterally stop official action, especially the adoption of legislation. A veto can be absolute, such as in the UN Security Council, whose permanent members can block any resolution. Or it may be limited, as in the U.S. legislative process, where a two-thirds majority in both the House of Representatives and the Senate can veto the law. A veto only gives the power to stop change, not to accept it.
Thus, a veto allows the holder to protect the status quo. The concept of a veto organ appeared in Roman consuls and tribunes. Each of the two consuls in office in a given year could block a military or civilian decision of the other; each forum had the power to unilaterally block the laws passed by the Roman Senate. Poland`s finance minister has announced an absolute veto on further taxation of coal, and Malta`s finance minister has said the idea of increasing taxes on flights would be against the interests of an island state like his country. The concept of a veto player is a political actor capable of refusing a choice. In practical terms, in the analysis of Tsebelis, a veto player is a player who can stop a change in the status quo. This is analogous to players in a trading game where all players must reach an agreement. In the financial world, the provisions of loan contracts that stipulated that consent is necessary to lift a restriction or exercise a right are on the agenda. Whether or not the agreement is granted may also affect other areas of an agreement. For example, an interbank agreement may contain a provision that, when a security officer is informed by majority lenders, he or she may amend the security documents if the parent company agrees with the group of borrowers. VETO, legislation. It`s a Latin word that means I keep.
2. It is generally applied to the power of the President of the United States to obtain a bill that has passed both branches of the legislative branch. The act of refusing to sign such a bill and the message sent to Congress, which gives the reasons for refusing to sign, are all called vetoes. 3. When a bill is entangled and sanctioned by both houses, it is forwarded to the President for recognition. If he agrees, he will sign it. If he does not, he sends it by his objections to the house where it was created, and this House inserts the objections in its newspapers and continues to reconsider the bill. The coast. U.S. art. I, s. 7, kl.
2. Empty Story on the Const. Sec. 1 Kent, Com. 239. 4. Governors of individual states generally behave negatively in legislation. If the veto is exercised with the necessary caution, it is an additional security against thoughtless and hasty laws, or when bills have gone through prejudice or lack of reasonable consideration. However, it was primarily designed as a weapon in the hands of the Supreme Magistrate to protect the executive from aggression and usurpation, as well as as a proper balance of the Constitution.