Final answer:
The line-item veto is an executive power to nullify specific items in a bill without rejecting the whole legislation. It was available to U.S. presidents for a brief period from 1996 to 1998 before being declared unconstitutional. The practice allows the selective cancellation of budget provisions and has been accompanied by an increase in the use of presidential signing statements as an alternative form of veto.
Step-by-step explanation:
The power mentioned in the question refers to the line-item veto, which is a form of veto used by executive authorities to nullify specific provisions of a bill, usually a budget appropriations bill, without vetoing the entire legislative package.
It allows the executive, such as a governor or the president, to selectively cancel certain parts of a bill while allowing the rest to become law.
Though a number of states allow governors to use the line-item veto, it was only made available to the U.S. president in 1996. However, the line-item veto at the federal level was declared unconstitutional by the Supreme Court in 1998, making it a short-lived reform.
Furthermore, apart from the line-item veto, presidents sometimes use signing statements to influence the application of laws they sign, by claiming the right to ignore or refuse to enforce certain parts of these laws. This practice has increased in prevalence since the Reagan administration.
An example of this practice was President George W. Bush's extensive use of signing statements instead of exercising outright vetoes. Nonetheless, it is important to note that any veto, including the line-item veto, can be overridden by the legislature through a two-thirds majority vote.