WASHINGTON — President Bush vetoed legislation yesterday that would have expanded government-provided health insurance for children, his second slap-down of a bipartisan effort in Congress to dramatically increase funding for the popular program.

It was Mr. Bush’s seventh veto in seven years — all but one coming since Democrats took control of Congress in January. Yesterday was the deadline for Mr. Bush to act or let the bill become law. The president also vetoed an earlier, similar bill expanding the health insurance program.

Mr. Bush vetoed the bill in private. In a statement notifying Congress of his decision, Mr. Bush said the bill was unacceptable because — like the first one — it allows adults into the program, would cover people in families with incomes above the American median and raises taxes.

“This bill does not put poor children first, and it moves our country’s health care system in the wrong direction,” Mr. Bush’s statement said. “Ultimately, our nation’s goal should be to move children who have no health insurance to private coverage, not to move children who already have private health insurance to government coverage.”

Mr. Bush urged Congress to extend the program at its current funding level before lawmakers leave Washington for their holiday break.

Congressional leaders had already said earlier yesterday that they now will try only to extend the State Children’s Health Insurance Program, or SCHIP, well into 2008 in basically its current form. Their comments signaled that they have given up efforts to substantially expand the program.

The bill passed the Democratic-controlled Senate by a veto-proof margin, but the same was not true in the House. Even after the bill was approved, negotiations continued to find a compromise version that would attract enough Republican lawmakers to override Mr. Bush’s expected veto. A two-thirds vote in both chambers is required to override a presidential veto.