Sorry for the late answer, but no in that case the veto power is NOT negated. The veto power is there for protecting Liberals from loosing by RNG. But in also very special cases this power can of course be used by Fascists to discard two liberal policies. I pepersonally never experienced that but it is possible.

Thanks for finally getting back to me. I was asking because I was watching one of Totalbiscuit's Secret Hitler Sundays and this situation nearly came up. They constantly downvoted the government to avoid the bullets and wanted to use the veto power to try to make sure the next government could veto a potential 3 fascist draw. The only reason it didn't come up was the government voted in were the fascists and passed the last fascist policy. Thanks for the clarification.

EDIT: It was in Secret Hitler Sundays Episode 6, the last game for those interested.

But the rules say "Any power granted by this policy is ignored". So also the veto power. The veto power is a presidential power like the "execution".

I watched some videos of the original developers of Secret Hitler and they played it that way that the veto power is not negated.
It is NOT a presidential power. It is a special power which just comes into play with a presidential power at the same time (there are two powers on the 5th fascist card zone). Also it is not a presidential power because it is not initiated by the President. And lastly the veto power is separated from the presidential powers visually by a different formatting design of the title. Presidential powers are all capital and underlined, veto power is bold and not all capital making a separation of the group of presidential powers. Veto Power is a special power and does not go away by RNG!

Also NICE translation of the rules into German. I glanced over it and I liked the statements at the end to your translation. You have put some thought to it.

Okay that makes sense. The rules make a different between the presidential powers and the veto power. Thanks for the explanation, because based on the rules, it is not 100% understandable.
And thanks for the compliment :)