PRESIDENT WILLIAM J. "BILL" CLINTON - TYPED LETTER SIGNED 08/16/1997 - HFSID 348003

BILL CLINTON
The United States President signed this typed letter thanking Senator Patrick Moynihan for his help in passing two major pieces of legislation
Typed Letter signed: "Bill" as President, 1p, 6¼x8½. The White House, Washington. Dated August 16, 1997. To Senator Daniel Patrick Moynihan ("Dear Pat"). In Full: "Thanks again for your leadership in securing passage of H.R. 2015, the Balanced Budget Act of 1997 and on H.R. 2014, the Taxpayer Relief Act of 1997. As a result of your efforts, we were able to reach agreement on the first balanced budget in nearly three decades. This historic accomplishment would not have been possible without your support. Please accept the enclosed signing pen as a token of my gratitude." The "signing pen" bearing Clinton's facsimile signature, "William J. Clinton", is present. Letter and pen are matted and framed in a shadow box: 13¼x16. On August 5, 1997, President Clinton signed the Balanced Budget Act of 1997 and the Taxpayer Relief Act of 1997 into law. The tax law made more than 800 changes to the tax code. The goal of the budget law was to balance the federal budget by 2002 and cut taxes by about $95 billion over a five-year period. The Balanced Budget Act of 1997 resulted in a cut in federal spending of about $260 billion over five years, with $115 billion of that coming from lower Medicare reimbursement to hospitals and doctors. Just one year later, President Clinton presented to Congress a balanced federal budget, the first such budget since 1969. A balanced budget was maintained through late 2001, but tax cuts, the cost of President Bush's "war on terrorism", increased defense and other spending, and the effects of an economic recession produced a deficit again beginning with the 2002 budget. We may never see another balanced budget in our lifetime! FROM THE SALE OF THE ESTATE OF DANIEL PATRICK MOYNIHAN. Democrat PATRICK MOYNIHAN (1927-2003) represented New York in the U.S. Senate for four terms (1977-2001). He was succeeded by Hillary Rodham Clinton. A historic letter related to two of the most important legislative achievements of the Clinton presidency with a signing pen presented to an important U.S. Senator by the President himself! In fine condition. Before BILL CLINTON (born in 1946) was elected President, he served as the Attorney General (1977-1979) and Governor (1983-1992) of Arkansas. While in office, he balanced the budget, signed the NAFTA trade agreement, and passed welfare reform legislation. However, he's probably most remembered for his relationship with Monica Lewinsky and the ensuing impeachment trial for perjury and obstruction of justice. Despite this scandal late in his eight years in the Oval Office, he left with high approval numbers due to his legislative successes. The Clinton Foundation, which he founded in 1997, has raised billions of dollars for humanitarian causes. Framed not in Gallery of History style: 13¼x16. Not reviewed by us for conservation integrity. "As is" framing purchase.