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One of the most powerful tools of the president in the policy-making process is the veto. Although presidents can veto legislation at will, the use of the veto is costly as it can be perceived as a sign of weakness. Veto threats may provide the president with a bargaining tool that relies on the power of the veto without incurring its costs. This article explores the conditions under which presidents are likely to use veto threats. The authors posit a model of presidents' use of veto threats that includes presidential resources and environmental, bargaining, and policy-related factors. Ideas are tested on the Ford administration. It is found that the likelihood of a presidential veto threat is affected primarily by the salience of the issue and the characteristics of the bargaining process.