In this case it dies just as if it had never been passed.
The bill "dies" Meaning it does not become LAW
It goes back to Congress and back to the house it originally came from.
It depends on which president you're talking about. Franklin Pierce and Andrew Johnson had more than 50% of there vetoes overridden but many presidents had none. In more recent history George W. Bush had 33% of 12 vetoes overridden and Bill Clinton had 5% (2 out of 37) overridden.
It can not become the law of the land.
If the President vetoes a bill and refuses to sign it into law, the Congress can override his veto with a 2/3 majority vote in each house of Congress.
Congress doesn't have the power of veto; the President has the power of veto.
If the president vetoes a bill, it means that they reject it and it does not become a law. However, Congress can override the veto with a two-thirds majority vote in both the House of Representatives and the Senate, making the bill a law without the president's approval.
it kills the bill
For the president the advantage would be that pocket vetoes cannot be overridden by congress. The pocket vetoed bill simply disappears until it is started again in another session of congress. A normal veto can be overridden but only about 4% have been.
The bill only goes back to congress if the President vetoes the bill. The President lists the reasons he would not sign the bill.
He vetoes the bill.
After the president vetoes a bill, it goes back to Congress. Congress can try to override the veto with a two-thirds majority vote in both the House of Representatives and the Senate. If Congress successfully overrides the veto, the bill becomes law despite the president's objection. If Congress does not override the veto, the bill does not become law.