 Harding's veto of the popular measure particularly alienated the Senate Republicans, who thought the President's defense of fiscal integrity endangered the party's electoral prospects.In preliminary negotiations between Congress and President Calvin Coolidge, it became clear that the President would veto any law that proposed immediate cash payments to veterans and that the Senate would sustain that veto.The legislation, popularly called the Insurance Bill, provided the veteran instead with a variety of future payment scenarios rather than cash in the short term.