President Clinton signed the line-item veto bill today. It will allow a president to eliminate specific items in spending legislation, as well as very narrow tax loopholes and new entitlements. The new law, which presidents have called for for decades, goes into effect next January and will expire in eight years unless Congress extends it. Proponents say it will help cut the deficit. But NPR's Mara Liasson reports that many analysts are skeptical about the line-item veto's effectiveness.
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