-
https://clinton.presidentiallibraries.us/files/original/15f13a6605502eb80a71654c996f595c.pdf
3cab8f8bf5df7e05885ce9db8e5ffc92
PDF Text
Text
Clinton Presidential Records
Digital Records Marker
This is not a presidential record. This is used as an administrative
marker by the William J. Clinton Presidential Library Staff.
This marker identifies the place of a publication.
Publications have not been scanned in their entirety for the purpose
of digitization. To see the full publication please search online or
visit the Clinton Presidential Librdry's Research Room.
'.
�Rebuilding America
For A New Era
Clinton Administration Accomplishments
L_.____ ~_~.____
�..
1,'p4.1
'lV'pu. PlAPAI.l'
I. ¥04itll4 Srp ,as (I••••p.~.t. moaorlDdual
II. e&pitol ,aiDa rllilt
Should ·,.ad capital" 1neentiva. (Ot capital gaina rat.
tg~ •••4 capital holdin9. of !O YQarG or mora) hc
~ro'lidGll for .,..11 firm.? NO
Cap en ge1ns ..l1gible
~or "fg~,t~I),;."IOvn;1 \;()I\ odDX
9iz8 0' corporation tnat may 1•• ua~~~~lbl.l.tOCk.
.
\:.9:xJ Wi i I fM
Snould S carpor.elan at.ek to eliqibl.? N()
•
v1!.
III.
Sh~Jld cQ~;.te
exc.lu81all? f'lO
fao.rn&~10n&1
tlat"x::-al.
shareholder. be aliqibl. tor the
Propel.i.
aceumul.~od
Tha proposal triwQt:tr8 U.S .. tax Qti th.
••rninql of f.ral;n carperationa awnad by
U.S. aQltlnat1enalA to
!~CUlaQ
a.
/
~Q
extent thAt
25 ptlJ:'e4l\t ot total, aaaata.
~Of.lti...
~.
ino~ae (whlOb 1~
~a
••ive ••••tl
m" ___ _
propoaal 8aparataly groups royalty
typ10ally
lov-~axed
ih toreiqn
jurladlot1ona) with p.aatva inc... (which aloo ia
typloaUlf low-Ux<l<1)
aradJ,t.
~or
p_"".
OJ! tho ~or.1Qn tax
c•.
j
:v.
v.
...1
A.
""Hit at U
P••• iv. 10•• ~.~io~/.xtDnQion ot depreciable l!te of
nonresidontial real property.
1. 'ropeaal allowe real eB~t. prot...ionala,
inolud1nq ~rOkGrD, to usa r.n~.l loe,sa to otta.t
otha' :real estata income, SU.Oh &8 brok.lJEa9.
CIOJIIai•• ic:n•.
�a.
B.
Pro,c••l oxt.nd.
c.pt.~iahl. 1!~8
nonraa1dent1&1 real
prop.r~y
Relax&t1on of rule••elatlnq to penelon 1nv••tmente In
re&~ a.t~~.
(tor eMa,l.t
~.la¥.a
!inoncinq and sellar easing).
C.
n~
of
to JO ye.r••
li.1~a
on
s.11Q~
.¥teneion of tAl low-incoma housing
?a~anent
,applies attar June 30,
cre~1,
1$9~).
permanent Qxtension of mortqago revonuo bonde and
mortq&~.
credit certificate proqram (applies after June
lOf 19'2-).
�:'04
£NElI.GY TAX tSSWS AND TREASURY RECOMMENDATION'S
iI.""
'Tlu:I following It! • list of out.tIal'.diJI1
flIpratng !he -'1)1 ta:l IIIfi T'cosury',
m;.ommenaatians. This document is being provided to the NEe a.n4 other participants of the
T:uk Fo,ce :0 facilita:e discussion of lI1ese Issues.
IMPOSDlQN
POJNU
ISSUE 1, Point of Impetition of tile energy
RECO~'DA nON,
..fin.. at dull9fInory ....
tax
on oli.
w. recommencl that the ...,.gy tax be imposed on and paid by lI1e
a.c.. the energy "'" j, ImJlOllOd on ..fined pClrQ10um prod""" as !hey
I.... !he ..mery. """er than on eNd. oli when ""';vee! by the refinery). W. do not
recommC114 Imposing the enercy WI at the terrniru!llOCk. "",.il""" with our principle that the
!aX should bl impoced u fat upsmam trom !he end user .. possible.
tSStiE,. Point of i111petition of Ibe ..eriY taX on nalvral SUo
RECOMMJilllDATION, We ucomll>l!lUl IlIaI the ....,y WI be imJlOllOd OIl cio local
diatribu'OII company or indllSlrial UICl' at the city gate with _UOIl by the pipeline. We do
not recommend Imposing the cncrn tax direttly on the CII4 ......
_ ) , POint of Impo.lt!on of me enttI)I "'"
on <00.1.
RECOMMENDATION: Trwury', IUmmary of the Admini_Iion',..,...,.. propoo&!. (the
'Qmn Book') Indi<ateo tIW ocaI would be taxed at me mlnemouth. To aVllid potential fixed
price """tract problems and impct!lion of Sit.............. 1IWS on top of the energy tax, we
""'" _ I l t a t the """'If .... bo.lmposed on a.'lll paid by the utility or induotriAl user upon
delivery.
lSSUE 4t PoInt of imposition of tile energy laX on e!eetricity ~ by independent power
(IPP) under tIxed-pricllc",umcu. 1:!mII: thls retlJrnm<ndatlon wum.. thel fixod
i>riee CIlIIa.cu prevent a pwd\!ouch of the cnC!8y tax. We have ~uested copW or I3ITlple
pR>4"'' '
contn.ctl.
RECO~'DATION,
Utility or industrial
w. _mend that the "0'1)1 .... bl imposed 00 and paid by tho
\ller upoll
t1!I2lp~ :he en.'lY
...... billed OIl fossil fools ....,; by the IlIP to
plI)duce ~; lht !PI' ""';\'fa a credlt fOr tile energy tax 011 fossil fuels II used II> ge..,..,
the el«tliclty. 1:!mII: th<Se rules apply only when tholPP ""14 c1ecu1oity under. pte-eff...,,,..
dato, fixed-price CQIItmct; in all otblr ...... laX i. lmpo"" on the proc!ucer (whether IPP 01
utility) or on the fool _
by the ptOduocr.
�?~5
P4SSl1lROl1GH
ISSUE!: Secure poultill'01lih of !IX lOr utilities.
RECOMMEND"TlON. W. ,~,,,,,,,metId dill • lOX penalty similar to ~tion
!\Ollllahlation be Imposed on til. utility It' tho Wt is not pwod th_gII; tho intantion is t"
"\('0'''''110 Stale tqulatoty appnwAi ot tbe pwtlIrougb.
lSSm;: 6: WIletIIOl' lIOme I15Ung OIl 'Muld be taxed at tho oil ralll.
IttCOMMENDATlON: AOOOIItioe to tho OIr,Cll Book. tho oil _ 1IIIPJic:, willi • cIelAyed
pJwe..in of flit diff...... bolWOOn tho oil raI4 MIl tho basic _ . W. ""';mmend no chanlc
in thia Me.
IlISUE 1: WhctlJ", tho same .~y tax ..to shouid be imposed en liquo6ad petrOleum g...,
(from oil) MIl _ . u liquids (f!'lllll ps) boC'l1I~ thoy are euentially the same prodllOt. and.
if $0, whid1 tax rate.
ItECOMMENDATlON. we *OmmellG tlIclmpo$uo. of tho energy laX at m. "'.. for natural
au on both producu.
ISSUE 8. Wllettu:r potm1eum cola: $boold be IaXCd at the tax olle for cool.
ItECOMMENDATlON: We """""mend the i",,,,,,ilion of !he -iY tax at the tata for refinad
poIrOIevlll products.
UEMPlIOlU
ISSUE), 0eMral1OCpO of """"",lions /1'011\ the .. orgy w..
IttCOMMltNl)ATlON: A<:<OItIlIli ID the Om:!! Book...ports and nonfucI .>os of (oui! fuel
a1\I
Nonlilel. USC> iru:Iude feedSlllCk ll!tI. aspItait. lu!ll!eanu. cu:. We recommend no
cbanp to d!iI rule.
'"'."'pc.
�,06
·3·
IU!COMMENDATION, w. _mmend oiler IlalVRi lID "oed I. the field (c:.&.. EO"-) .. :he
liite wh1n'e it it pr04a0e4 be eumpt from u. HowawCT. 011 or ,as broulht to the ,ito and .... std
as fuel .hould be
Oil u!Oll In a ",finery IlI1d natural gil! ulCIllr. • ~g plant ,oaui<!
not be 1.I..'«lid. Ko~a. putcha.ted rwuml au used .1!l fuel in. l rofin-aty should be taxed. We
_m=! tha! ~J!l uood for pmpul!iO!\ of olher fuels and natural illS los. in ttal\sminiOl\ be
W<CIl.
taX...
!SSUE 11: Whether to im_ ... o. fuel aIoohol (.thanol ami methanol), ETBE. MTBE. other
oxidan... and biomass that produ",. fu.l all:ohol. ami. if so. III ..hieh tax ,.~ U. oil rate or
"_PI_I·
IU!COMMENDATION: Accol'1ll1!s \0 me QQlCo I!ogk, ethanol and llltIIwlol will be "'-"'id;
fI.tC, bowevcrt wu not $ptOified. w. recommend mat 211 of these tuel; be taXed. hued
on !heir Btu _teft~ 01 the l'll' for tefmed petrOleum produclJ.
the $p:
ISSlrE U: Whel.ber coal galiflcation .hould be double taxCIl on .......lWly tho same Btu', (coal
used to produ... ,ynthetio IIaIVral SII). (l'lIit Is.ue i. unique to N_ Dalo>!.L)
RECOMMENDATION, W.,...,..merut 1M lmposldlln of !lie elllttiY 1lU on th. ,yntllctic
ll1lUfIl PI produ=l dDly: .....1Ill!Icnd die o.omptiDn of the coal used fM produetion.
ISSUE 13: Whel.ber to ImposeW 00 pump sto:Ip electricity (fouil fuel•• hydro- ana ••<leu
_dly ..., .... to pump wau:r in'" !he
unit durin, off-peek
and
hydtoetlolrioily U pt1>dllCOd when ,..... It ,*"sed).
'1QIq.
peri...
IU!COMMENDATION: We reco_ Ihe Impooilicn of tho eMrgY laX on ,'Ie fossn fuel.
hydroo and nudeou' ~I)' used to pump ..alI:t into the 'ttIIlIiC unit: recoml!\lll4 Ihe
_ptlOll of 1M ..."IUns by_city.
1SSt.'E 14, WIIether "eeutdIY used III me prodUC1lon of aluminum sI!<>Jl4 he ..empt ...
fecOstock.
IU!COMMENDATION. Faod.tocks are lIO.fuet U'" ot £ouil fuel.; e1eottU:it)/ ;, exempt O!1iy
it exporIllld or pt1>dllCOd from pump ..,,...,.
.
ISSt,'!, 1!: Whether to 1II"J1' an ...mption
ro, <»01 _
...
RECOMMENDATION, W. r=utmcod thst ccol_ be exempt from tho energy WI unlo..
it is UHd u a fuel.
�?~7
...
&non'' ' ..
I!I!UE 16, Whclhor.o
emption ("'In the .....r tax for IMdflUIIU. m ioipo.l ",lid
••
"ood 0' wood-<ltrlved products, and ti"", bul'Mll .. fuel.
_te.
RECOMMENDATION:
w. r<C01IImend """"'ptiQ' unlcS! EPA objC<tl.
IMPOBTS AND EXPORTS
IliIIUE 11. Scope of ex..,plion for exports.
IlECOMMD/DA'I1ON.
w.....m...1\4 !hot ..ported taxabI.' prodllCll ..'ld oloctrici'r be
1!XlImpt,
lSStm 1.: WbClhcr to provide bOnIer
taX
adjumnctml tor CIlOIiy·lnlensive manufatlurod
prod.....
IlECOMMI'JI.'DATION. W. recommend Uta! n. talt adJultments be pnwided on either i:npom
or expcnts.
ISSUE 19: Ptovisiolll to comply with GAITIF= TmdII limitation. on the energy tax on
impc_ or ..,.,- t1"";d.ty,
...w
RECOMMENDATION: W. "",ommend that. '" •
Indo limitation., proof of ",!U&l fuel
...".. wI ......"ptio. be alIDwod. 1lilI!I: it may be.......,..-y '" !'!!QIiill such proof in tIta ....
of expons.
W10B moo TAX
RECOMlllENDATION. W.....mmen<llht Imposition of. floor ,\OCb tAX (on inventory held
as of lhe dar.. of imposition) .acI'. tim. rate, chango (including tach indexing period) witb
txeep"'1 fot """'pt .... wi a rtuenobl. d. mlnimil lillo,
At!IIOlunont (0....
Book PIlI" .n BotflY
TIX)
Offico of Tax Polley
Marc. 10. 1m
�..
L'IIjIIGX PROl'lSIONi
PROVIDE A MODlnED BTU TAX
The UIIitc1I Stain O1m'O.tiy d... not impo!e l bl'04d-based enerlll' taL The
U!!ltell Swes does Impose &11 w:Ise tax on malor 6le1s (guollne, lpecial meror fUel$.
SlId die&el full) ...d ret higbway ~on; special mo'Ot Iu.b ...d in motO[!JQau;
..d dieMl fuel used in trairII. The United StaW also impotc. an w:Ise tax on <mI from
dl:ltUlttc 'IZliaeI aa.d an adH: tD 011 a'\1I1e oD received It dDmettic retin.ria. and:
po"",I."", produN ..., • ...0 blto !be Vlliteel Statn. With !be _oon of d::. motOt fueil
'" aU 0""'1)' taus Of. minot. 1'0' the most pan;. 11:_ ore dtdIClWld reven... tha, oro
deposited III vanOU$ trIllI tIlnds. Tbe 1110!0' 6lels we also bas a d.llcit teduction petti••
tIW is 1101 dedicated, bill Is retained ill the Oeu.eralFucd.
A broacl-bucd clmi1 1M wuuld belp [cd."" the deQcll aJtd put !be _rr.meal
o. & pay.as-you-go bull for _ded Nblic propms. '" adcl1ttOll, Ill. tax would advuce
!lire. &coli: toduction of ."""'......1aI diIma/I... ''''11 ..........dc.. SlId todu""d.
~_ on Corelp SOUtcel of enetIll'. The !AI wauld etlMurap """'Ill' efficiency
SlId liioi mlz dIol.coo _
~
!be tN. ellVirom!N.tal aM ........uy _u or "'.'1)'
=-
UN. ~. l1li _
... WQUld holp
the \Jailed S-. ... nomy from in<:om.
_d 10 <OII1lIlIlPdcu·~ _~... with _ _ ben.Jlu to
Investment. and
teturm to - "
u.vIn&
don.
The peapcoiII WOIIId impOM an w:Ise lIZ cn fOlllil"'b (coal, oil, n&llU&l PA) at
• twi. ralC of SlU57-]lCMDiIlion-BIlII pha a SO.l4loper.mlllkm-lIruJ II1pplemental "'" on
olI. The W lll0uJ4 aIIo be impnMd ... aIcOI101 ~ (ellllngl SlId methanol produced.
o!ber !ban from Cooolllueb. ror ....... a ""'I). The tax wauld be impotcd o. lIydr",. .d
lIIII:Iear'il!lel'llcd ~, and •• importod e1emidl!' at ll'lle equal 10 tho national
........ of 1M _dtcl ill ollctricily .....""ad fro.. Cooolll'll.L Addhiooally, tho tax
...,uId be ~d 011 imponcd tuab1e pJOdu<u 111 • we cq:1IOi til th......""" laX
I.mpoHd 011 equlvalem dOmesw: produets. Ali 1M amounl$ would be Illduad for general
inlIatioD _
1m. A oiqI. ~ a••..,. of Btu ...to.1 would be UKd for 0,1, , ...
&lid aleobcl fuels, wbile acnIII Btu CODtlnl wollld be wed for coal. No_ntional
fuel> (lndudlns
geo!bemw, blOmlll. aM IIIW!l. ""poNd _
prndu<u. and
DB""NtI """ of toalI «ad a1..ltol N.II (illdudhla coiro SlId foodotoclot) "","Id be
"'lor.
"mpI.
�"
111. cou•.:uOft poIlU tor Ill. w< \/10014 be 1110 ,aIInory ror ou. lilt pipeline for
...oual pi. tb........... t.b Cor ooal. tbe produClion fadlll)' f.r alcohol fuels, the udUty
for hydro- a.ud. nuclcar~generatad cdemelty, and th. importation point tor imponed
t!octricity a.nd imported taxable prodU4'U. EumpUOlU or- downstream 4flditl WQt,lld M
provided for Donfuol use and cpom.
1110 ....., ....!hitd of !he. rat.. 'pecilled above ...uld b. imp...d b<lgln.nlng July
I, 1994: """.tbir<Is bellin.j"S July ~ 1995: and til. full "'lOS beaiMin, July·l. 19%, An
appropriate oclay illlltc pbaK·in 0; lltc SlIpplcmontal tJIX on oil would be provided In
!he case of home bealini oU.
The ~ would roix suln'...tiol .......- for dell"t tcdullUoD while
idvlmc;inJ _.zor.moaw!, -'II' ..,,,,,.MtlOIl and $liMit)' obJc<!1YCS. In particular, thc
prnpoaal would _
..:1>0••_ . , . aod vobJd...... aod nodumo.,. I• ."",umpdoD
of oU would come clispropon!ooately from iml>olll, WIlli die indexation fun".,
""''',.... from !he prnposaI (In ","'tall, dollar!) would be relatively Stable.
6S
�:f.lMirdl<1f1~J.qcd"I¥19 f.'H.f!!S n dj (I sJ mel'rl*, IHI'tChel\ .$;"I~t:{ "fle~{{'(LV"delcly
'fIof-
e.. vtoU3~·)·
.
2:::= t2..vu~"Y-J ~dor ~~'\-l.z..,t:[}tf --t1.£j
~ l:'::"~ol'Je 0\ I S'DIA.C.S;
S.-:t.y-:; t0or;i
i ({:e-re.vd FY"CNvlol-Mev
-.11",,,,, 'L6
i I .::- L\No,:! {-t.~tM'1I·{A-w",g J-, r:i f.J IfU/I"-" (l{j/n 120:_ I::! /If/dIY/aCe,,,/ /
recOVltn/, b X .c"'P (-I u,,~ .'1': i \( lei< c{ t'P c.i<.8Vn p hoYl So ' Dc." S v'-'~
e..n{:OU7\a.;~V~r,;:( ~\r1 V1Cvrt.~Y\ ...... ?ovv.? \NW~fh.f (Na-\i\.t(- 'fb CO'h (-I-lft.'"U·
. ·no ~~A eCVVl P hu'V\ S. Ivy..
0/( _ I
--~ ~,
Vl"",Ji"Yt'j "\ I
\'u2,,"q
i
:y~s _
elfllA"'" .1- aJ{J ,,,,,-,,,-I-s
:9:'1.7':0/.::1 . .
i<: & re tw./.
hie:;
i'-/.e-VVI p n'M,
Vlc:, '
�EXECUTIVE OFFICE OF THE PRESIDENT
OFF1CE OF MANAGEMENT ANO BU DGET
wASHINGTON, D.C. Z0503
THE DEPUty DIRECTOR
DISCUSSION PAPER }'OR NEC MEETING, JULY 27,1993
FROM,
Leon E. Panetta and Alice M. Rlvlin
SUBJECT:
Planning the FY 1995 Budget Decision Process
Obi«tive
We need to find a way to help the President make decisions on the FY 1995 budget'
• that reflect his priorities--reconsidered in the light of eight months experience in
running the govemment~
• for which the Administration can build a winning coalition in Congress;
• thai meet the FY 1995 discretionary caps. (Eventually we might want 10 make a
case for raising the caps, but we should not start with that possibility in mind.)
Qgpm1unjly
The tightness of the caps gives the Adminis~..tion an enormous opportunity to
propose restructuring what the Federal government does. This budget (together with the
National Performance Review) can make a bold statement about a leaner, better focussed,
mOre efficient Federal government.
first step; Review the Administration's Investment PrOPosal
As Bob Reich points out, the Congress has funded only a bit more than half of the
President's investment package. Keeping to the $29 billion of investment funding originally
contemplated for FY 1995 would assume an impossibly rapid ramp up. The NEe need
discuss an approach to the original inveslmenl package and how to get the relevant Cabinet
Secretaries rethinking both the nature and timing of these investments. (Gene Sperling is
starting that di seussion today.)
Second steQi Aunty Priorities
OMB has been holding a series of Management and Budget Review, (M&B Reviews)
with heads of major agencies. Agency heads have been asked to present to the OMB
�2
Director how they propose to restructure their activities in FY 1995. They were asked to
discuss both the highest priorities and what they would cut in order to fund those priorities
within the cap. Some agencies have done a lot of work to define priorities and specify what
programs they would reduce to fund their priorities. Other agencies used the session solely
to pl""d for more funds and FrE.
By the end of this process~.;:roiAugust 2) OMB ill be able to describe each
agency's situation and plans (with varymg egrees 0 5peclficity). For example. (I) agency
A would have to cut $1.2 billion from its base in order to stay within the cap and preserve
its investments. Secretary A proposes to do this by cutting X. Y and Z. (2) Agency B
believes its investments should be increased more slowly; it will not have to cut its base.
(3)Agency C believes all programs are important and bas not seriously addressed cutbacks.
OMB believes it sbould consider increasing Program S and cutting out programs T and W.
The M&B reviews themselves, are part of an ongoing process. We will be working
with the agencies as they refine their ideas, However, it would be possible to take
snapshot to get a good cross agency picture of where we stand now.
~
rt
Third
step~s'~3sues and Presidential Priotilies
Most of tbe rna or priorities of the Administration cut acro~s. OMB is
.
..
an Identifying optIOns within them. It
starting t e process of sclec I
will be possible to layout high, low and medium budgets within ""cb aT"" that will allow the
President, the NEe, and others. to discuss what the options are for allocating funds within
each. The areas that we have identified as useful for cross~cuts are:
--------~------------------------------/
Environment (EPAlInteriorlAglNOAAlEnergylStateiCorps of Engineers)
R&D and Technology (CommercelHUD/CommercelHHS/Ed/LaborltllX)
Managing economic change, including Defense downsizing, forests, trade agreements.
community development (DefenselHUDICommercelHHS/EdiLabor/tax)
Urban policy, including crime and violence
(HUD/HHSILabor/CommcrcelJusticeIDQTltax)
Post -secondary training (Ed/VAlDefenseiLaberlHHSIIl!lI.)
Children, families, welfare reform (HHSIEdiLaborl Ag/tax)
Drug policy (JusticeiTreasury/HHS/ONDCP/Education/StateiDefense)
Foreign Assistance (Statel AID/DefenselTreasury)
�l
3
Peacekeeping (State/Defense)
Fourth step; Makine ROQm for the Priorities
The agencies will all want more money than is available. The cross-cuts will also
likely focus mainly on upside options since all are areas that the Administration wants to
emphasize. lienee it is necessary to make a rna'or effort to identif programs that can be
..
su ested criteria for such eu
cut to make room fi
a c -.
efforts havebeen made in the National Performance Review to identify the low priority
programs. The budget process should build on this effort.
some) 0."",1'..'+
Fifth step: F'utting it all together
The final step should be to provide the President with a comprehensible and limited
set of options so that he can move the pieces around and make final decisions on the budget.
He should be able to see where the agencies have come out, what options emerged from the
cross-cuts and where it is possible to "make room" for the other priorities. The OMB/NEC
should be able to layout for him a manageable set of options coming out of the work in
steps one through four.
~ \.~
n-(..1'1 J
...
�,"
f
4
Attachment
Cdteda for Low Priodly
I.
Programs Ibat have accomplished Ibeir goal. Consider eliminating all programs
that have manifestly done their jobs (like REA) or are dealing with problems thai are
no longer priorities.
2. . No federal role, DO spiOovers. Consider eliminating all programs for which il is
hard 10 make a case thai the problem requires a federal solution. This would
eliminate programs whose benefits are primarily local or within the state and do not
spin over into other jurisdictions. Alternatively, consider lowering matching rates on
programs that have strong state support.
3.
Inconsistent wilb anotber polky. Consider eliminating all programs whose
justification has been overtaken by another policy, especially a major new policy.
For example programs to serve populations not covered by health insurance should
be phased out as universal coverage is phased in.
j
4.
Programs that don't work. Consider eliminating programs for which evaluations
have shown little or no success in which major implementation problems have
~
persist.ed.
5.
Subsidies to uneconomic activities. Consider eliminating or phasing out subsidies
thai perpeluate activities that do not meet a market teSt (whether the subsidy is a
grant, an artificial price, a tax break or cheap credit) and find a way 10 help the
former recipients to make a living some other way.
6.
Small size. Consider eliminating all grant programs with outlays of less than $100
mi1lion on the grounds it is too expensive to administer such small programs and
states/localities could absorb easily.
---------------~------.L. ~./ ~
~o
J
L,
",...,; 'l:
~
-C
-f'I,.
}-A
~ (l~ 1
~.
�I'
flee
\.
p;;; I pes 1y/4.,
~;:[J:is
Document No•. _ _ _ _ __
WHITE HOUSE STAFFING MEMORANDUM
DATE: _ _::-::,5/",2::-:7-:-1-,9-=3==
SUBJEC~
ACTION/CONCURRENCE/COMMENT DUE BY:,=-===-::c:-_ _
HOUSE APPROPRIATIONS COMMITTEE ACTION ON FY 1993 TARGETED
_INVESTMENT_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ALLOCATIONS _ ___
_ _ _ _ SUPPLEMENTAL AND FY 1994 602(bl _ _ _ _ _
ACTION
VICE PRESIIJENT
0
McLARTY
0
GEARAN
0
NEEL
0
PANETTA
0
EMANUEL
0
GIBBONS
0
HALE
ACTION
FYI
~
~
~
~
~
FYI
MONTOYA
0
0
NUSSBAUM
0
0
PASTER
0
~
RASCO
0
9"'"
_.:n::=t.~
RUBIN_", .
<!If'
SEGAL
0
0
STEPHANOPOULOS
0
0
0
0
TYSON
0
0
HERMAN
0
0
0
LAKE
0
WATKINS
0
[J
LINDSEY
0
WILLIAMS
0
V'"
McGINTY
0
~
~
VARNEY
0
~
CLERK
0
REMARKS:
The attached has been forwarded to the President.
RESPONSE:
JOHN D. PODESTA
I
J
Assistant to the President
and Staff Secretary
Ext. 2702
�f
'.
,
EXECUTIVE OFFICE OF THE PRESIDENT
OFFICE OF MANAGEMENT AND BUDGET
WASHINGTON. D.C. 2O$ll
May 26, 1993
-HE DIRECTOR
::3 "'v26
.
" I
MEMORANDUM FOR THE ?RESIDENT
FROM:
Leon Panet
SUBJECT:
House Approp
ans committee Action on FY 1993
Targeted Investment
602(b) Allocations
Supp~emental
and FY 1994
On May 24th, the House Appropriations Committee approved a
targeted investment supplemental (H.R. 2244) and their FY 1994
602 (b) allocations..
House floor action on the targeted
investment supplemental is scheduled for today.
The FY 1994 602(b) allocations were approved by voice vote~
The committee reduces your request for defense outlays by
approximately $2.5 billion, reduces the international affairs
outlays by $.6 billion and shifts the funding to domestic
subcommittees. No CSO/OMS outlay adjustments were made to the
allocations.
.
ForEliqn Operations Subcommittee Chairman Obey said that he
believed that the Foreign Operations allocation would not provide
adequate resources to fund the Administration's highest priority
foreign policy initiative, aid to Russia. We are working with
Chairman Obey and Defense Subcommittee C~airman Murtha on an
alternative funding mechanism for Russian aid that uses funds
available, under the Defense and Internat i.onal Affairs caps for
FY 1993.
A MCDade substitute 602 (b) was defeated (20-25), which
would have set Defense spending at your request ($2.5 billion in
outlays above the approved allocation) and all other funding
would have essentially been frozen ($12 billion below the
approved allocation).
Targeted Inyestment Supplemental
o
$.84 billion is provided, primarily for the programs
you requested on May 14th (detailed below) ,·1ith
offsets of $.9 billion from a hroad range of specific
accounts.
I
o
An Ohey amendment was adopted (26-24) which struck $200
million requested for the EPA wastewater program and
eliminated the $200 million Low-Income Home Energy
�.
,
Assistanca (L!HEAP) rescission. The Obey amendment was
offered as a substitute to the Gallo amendment, which
would have taken the $200 million for LIHEAP from
Summer Youth.
o
$320 million is provided for Summer Youth Employment,
distributed under current law. The requested set
asides and expanded age eligibility were not approved
by the committee but may be restored on the floor.
Upon adoption of the rule l Rep. Water's language will
be approved.
o
$200 million was approved for the 3ustice Department
ueop" program. Funds are allocated by formula rather
than through the requested discretionary authority of
the Attorney General.
o
$200 million for EPA wastewater construction grants,
$200 million below the request.
o
$14 million in unrequested funds is provided for the
SBA tree planting program.
o
$71 million for USOA wastewater construction grants
(part of request in the original stimulus package).
o
$51 million for Amtrak (part of request in the original
stimulus package) .
o
Rather than approve the proposed .45 percent across
the-board rescission, the Committee approved specific
rescissions such as HOPE ($165 ~illion), Federal
Prisons ($95 million), EDA ($55 million), 3TPA ($50
million), Superfund ($100 million) and a delay in the
availability of FY 1993 Weed and Seed funds until
September 30, 1993.
o
A Durbin amendment was defeated (16-20) which would
o
A Callahan amendment to reduce Summer Youth by $20
million and eliminate the Coast Guard rescission of $20
million, was defeated (voice).
have prohibited the use of Energy and water Act funds
for a lock and dam project in southern Illinois.
2
�.,'
. ..'"
CURRENT STATUS OF SENATE AND HOUBE BUDGET COMMITTEE DELIBERATIONS
HOUSE BUDGET COMMITTEE
Fiscal Year 1994
- will bring discretionary spending within or slightly below
FY 1994 caps
Fisoal Year 1997
- liltely to hit $140 billion in FY 1997 deficit redUction
using CBn scoring
FY 1994 - FY 1999
- likely to Meet $473 billion target in net defioit reduction
using eso scoring
SENATE BUUGET COMMlTTEE
Fiscal Year 1994
- will bring discretionary spending within caps for both FY
1994
and FY 1995
Fiscal year 1997
- likely to hit or surpass $140 billion in defioit
reduction using cao scoring
FY 1994 - FY 1998
- may surpass $473 billion in net deficit
red~ction
inoreasing revenues above administration budget
by
�POTENTIAL ADDITIONAL BUDGET SAVINGS
(Outlays, in billions of dollars)
Total
1997
1994-1998
Savings
Savings
0.8
3.5
-- $5.50 in '94; S6 ihereafiet,.",......._..................._......."""...............
2.3
- - $5 in '94; $6 thereafter,...,.,"'., ..,.... ,......................""....." ..•..,.... ,....
2.1
7.7
6.8
1, Mearu:-test Medicare premiums forS7SIl00K. ..................... " .."....;... '
2. Increase Medicare premiums by.
3.
COLAculS
r:.·o COLA underage 62 (Military and Civilian, net)"."•. "..,..,....
--- Cap all COLAs at poverty threshold ..............................."."..." ...,
4. 2,2% Across-the-board reductions in '94-'98 totaLdlscretionary..
5.
4.0% Across-the-board reductiOns in '94-'98 nondefense
discrelionary............ ,,,,,,,.,,, .........................,._........ ,.... ,"",,,,.,,,,.,.
1.7
6.3
13.6
49.1
12.0
52.1
12.0
. 49.4
12.0
Sll.5
12.0
NA
6. 4,6% Across-the-board reductions in '94-'98
nondefense, noninvestmenl discrelionary........ _...................................
7. 2.3% Across-the-board reductions in '94-'98
nondefense, noninvestment discretionary and $6 billion
reduction in '97 outlays for lower-priority investments""" ........ :.".".
�f'O$$IBLE PRIORITIES ON INVESTMENTS
I
Hlgh&sl
lNFAASTRVCTUAE
T. artSoor\idion
Flt(lIlfAI·Aid I'JIIJ'W.!ay
Smart CII"
l,'Iau 1rt!.l'mil clllpllllli Ofi!lnls
H10h'lpotd rllll!
Higt!-·tpIIIJd 11111 bOMI
E(l¥1fol1mtr.l
ClfJllln WII.\,'
Environm"ntlll t,chnology
Grl"n·lIght f!lrog'am'
I
Middll
Icohot·rt:!lIflt(l1'liIlhway lafety
ublic IArtd h~lwtllyl
11m slll,fy
Watltr ruourelts
Watatli'Htd fnoUlC'
nvl,onm,nlal ,.llorallol\ DOE
or..'. for tla FI..1.W'a
rlta-planung
atiOnal tau/irch USDA
Otutrv ,utatch USOA
,
,
..
rlnklng water
~"thar urvlct
Atural ,uourca protec!lon
,
,
,
~na
,
lttrnA!fva !uol vahlo!A'
adaftll building.
'futh,rl;ta.tlon grants
Ic.a..ou\ aOE reaolorl
nargy «In"rvllltion And renewabl..
atura/ gA. rHPr(Oh
dl'anoltd neutroll .OUtelt
."
,
I
.. an COMmun
ene f !!
Ct:v~o
,
,
,
I
,
,
,
,
,
,
~ tnJHk: COl"!1rot
ural Ot"alopman!
Comm"rJ
I
,
,
~rt 1mj')tO¥t:Mam
,
ullort
f . . "Arch
0IKi
iDEA for community tOI'Vttlion
OA for community eOI\\lt:a!on
nttrprill zon.,.
ommunity d ...tlnpl!H!tl1 bankt
,
I
T.c~~1
'ASA eMI • .,listlon
ual·.,..lochrtQIOQ:1'
NASA "hQtH'1II1..1 alrtrMl
;High.pllrtorman:c. ¢:Oll'lpu1I"'O
Iln!o,mttlion h!ghwIIIY'
FCC,",
,
1ST growth
"tion"lllb.
I
,
,
,
,
,
,
SF
o....tnm.m .fflei~c:y
olE tax c:redlt
,
,
,
i
HO,.·
L'~
: I
housing
bondl
hOWling flU eredit
Againtt Crimt
hOU1:ng
II
!~lIIad Stan
iChild ClVt Block "·"r.1
'Edueai/¢1"1 Reform
:N41;o'lt: SMVlet
"~i
,
,
,
,
Job CO" ••"'"
Job Corp. ma1nhtl"1anc:,
eareer .h:pplllll
I
".,
,,
,
Olo:l.r Amerlellln. employmlnl
TJTC
...
,
,
,
-Smv
i ff1""""'"
::=uc
Iyo","
IF"'" ,on,,,..
I"'"
rOod tal.tyo
I
home enlllrgy
~utlll heaflh
,
In.uttI1nce proc:nsing
Food Ollllmp.
,
I~
..J"OO
H,,"
,
I)
{r:
'~
•
,
,ITe
nc
+$ : np
',"i:r
,
'W"'g~
proPflrtt for AMT
I 10M ,,,.,,..
r
If
,
~d
- JIot;
~,
- Prior, h C;wt!J
Wllfrttf
tVa1W'U
- jflf»
pu6/ic...
I>! NtlY
frlttr
pr4,f-'
-tk~ ffr~.t</~j~
- fiCGl pI-I
LJWe-r-#'",
�.'
.'.
BROAD CATEGORIES OF ADDITIONAL SPENDING CUTS
(OMB or eBO FY97 estimate in billions)
1.
Defense (many proposals)
2.
"Foreign Aid tl
Egypt & Israel (1.4)
Security assistance (0.3 more; we have already cut 0.7)
3.
NASA
Space Station (2.5; interaction with our cut unclear)
ASRM (0.4; interaction with our cut unclear)
NASP (0.21)
Other missions (new science 0.2; exploration 0.1)
4.
Supercollider (0.6)
5.
The
~.rts
NEA I
NEH I
CPB } (total 1.2)
6.
Veterans
Medical care (0.3 cut; perhaps also axe our 1.0 add)
Compensation (2.3)
7.
Assistance to the states
Impact aid (0.8)
Medicaid (7.2)
AFOC/food stampS/Medicaid admin (0.6 to 1.2)
Most other means-tested would ultinately hit States
S.
The I1shark tank tl
Agriculture
Target prices (3.7), Market Promotion (0.2),
tobacco (0.2?), FmHA {O.2) I cotton (2.51),
conservation reserve (0.2), research/extension
(0.9)
Rural
ARC (0.2), TVA (0.2), PHA (0.21), REA (0.1), BrA
(0.1), black lung (neg.), clean coal (0.1)
Highway
Outlays = receipts (1.81), demos (O.S)
Air travel
Essential Air Service CO.l}, AlP (l.a?), slot fee
(0.3), air traffic control fee (1.6)
Amtrak (0.2)
Ocean (0.1), Coast Guard (0.9), inland waterway (O.S)
Hass Transit (0.9)
9.
The executive branch
TSP match (0.5)
"Overhead II
(?)
consultants (1)
Travel (1)
10. The congress
Pay raise, franking, Speakers J gym (neg.)
Across-the-board (1.0?)
GPO "age scale (neg.)
11.
BusinE~ss/labor
SBA (0.3)
ICC (1)
Davis-Bacon (0.6)
12. Entitlements
COLAs
M:edicare
�, ,ew(~d RIk;64dren
,Byrd n,B ~i;ler -
;Sfbu~" n::S4hfIC>lc
-':-l::;nlJfh..:J ;'" ~/ttlitJ; ffiar (il e..;(/y(Mt£#Z(.::
,& Se-rvL
,
,
,',
t
"
4"11"(
/VIV-br bt-/~
tilv"--y /tJ!J<'f
�I.
II.
Non-deductibility of lobbying expenses
. if
lob'D~l~ ItlliSI",hlNlcOMik>
'4"" ~.
.
.
Should lobbYlng include Executive Branch contacts
e~~h~_t"t~ regarding non-legislative actions? fZ-e--h-oa.0nV<Z -to f""e.b
B.
Lobbying,rules aDply to
- a
C.
W\'t O'r
0-
~o, I' ,
associations.
Rules applicable to l~bbyinq by charitable
organizations. ,x,f'lttclo It',
I I I ~ htflZ'pris. zones
A.
~rad,
p 10 101 et"'il I 0WA
1.t!1
~~ ¥Iof
wttrY:r-
-do i-'" r . . . ~
Schedule for proposals.
a. pilAf{
10
coftRs.,
IV. Investment taz oredit
A.
personal property.
''VICVJM.\.<..
j'
Investment tax credit qenerally applies to tangible
Certain property eliqibleJoc the
I ..
~iKI!
G-lA.p P-fi.5
py-l~86 credi.Lshollfd_be_e""luded. M'f/!eS 1 gGW>~C""'CW'::J
_ "" ',aU ()1A~;;,njJ
4 3billim o vet" .ft.\LptWio.£. V,t'-tos
1_
n:t0, r"X':;;8¥hM"c~tinued exclusion of computer software. <I pvoh/€
'rc,c"""se .
HOt1<;,,,/
-Sf1'ff«iMtlma~.
v.
Chanq.. in
A.
VI.
5; "OfIvvs ~
<1;. .
Cap on credit available for autom3bJ.les.&dS'C~p nofac!;tASlq:{
~az
Effective date of income tax
rateS'/~5eCtt7I1(}.,(1:."" -I'D b.e../
th"y
Ii
ea.
--I!oifwd./IVS 93
Business meals
A.
-!'-or Iflfkfr-p, or I~d'-
RAte.
50\ of business meals would be non-deductible.
m s tJvy .
ew!'<1eNta,.:ivwur (QW",' i)l.I<SeS dO$l!'d e(OW h
'" VI e-Vl fVvv'1.:J 5 (;JlMT fv'ovn leO - gcf?".
-\'10
(0 Ge{ \t\b-l d. WlMl1 -ft:;. look:. oJ .f1v'1 i <;
(3) Frldo...y eVite-vprls.e... ~O'YU.. iJ.MSwer
. SO
ZoYl£.S
441 b (I ion
March 11, 1993
�3/10193
STD4ULUSPROPOSALS
(in millions of dollars)
Proposed
Budget Autborityl
Obligations
~~~~ri&
Unemployment Compensation.........................
4,txXl
Highwa~ .........__._............................... ~ ...:....,
'2,976
CDBG................................................................
Youth Summer Jobs............................. _.._._ .... ,·
. 2,536
l,txXl
845
C!iaste;:'ater....._....:.___.... ,...,,,.,...............,...,,.,.,.
~
"752 ..
1993
1994
Jobs
Jobs
.0
13,100
15,894
1ll.600
il62
556
500
423
349
Supportive HOusing._....................................._..
DOl Natural Resource.,.",.,... """",,.......,.,...,..,.,
RDA Grants and Loans ...................... " .. ".,,, .., ..
SSADl....................................................•...........
I mmunil.alion..."..._
....,.,..,.,.,..., .. .,.. ,,,...,.,, ,.",...."
Airpon Improvcment....,... "..._......................,u.
11.280
34S
Head Start....~ ...,____.,......... ,.......,.............._.....
Chapler 1 Summer............. " .." .. ., ..... " .••,.••" ••,••"
3,800
12,500
14.(XX)
3,430
84
0
302"
300
250'
··235
Chapter 1 Census., •...•,..•,..•,.........,,,.,,,., ......,•.•,.,.
Veterans Mainrenance,.,,,.,,.. ,,..,,.. "".,,,.~....,,..,, .
Ryan White......,..................".."""" ....".."........."
23S
200
AMTRAK.,'.m.•.'._.._..,.,.."."......" ..",." ...............
0
45,200
30,952
9l,SOO
4,01S-~
-,;00---'
0
0
5,566
1,120
2,061
0
250
0
200
600
6,(XXl
0
1,7!rI
0
3.IlS
0
100
Agriculture Natural Resource............. " ...".".",
188
188
SBA 7(0) ............. ,............................................... .
141
Army Corps Water................................ ,........... .
94
7S
3,il21
1,409
300
32
5,600
15
250
~
8()
16,544
209,975
202,032
WIC. ........................................................•......••.•..
Older A,mericallS..,,,,,,,"""',,...........................,'"
National Service ........................................ " ....... .
Food Safety..........................................................
SlJbtotal, Highest Priority Proposals
. BA and Obligations ......•.• : ......... ..
~a~~:~~·~·i;::~·:;·········:········
2.500
750
1,450
9.062
2,066
0
0
0
Q
13,1(,0
Pell p,ior (-SI60)...............................................
1,211
0
0
Pel! Cuffent. ................................" """".." .."".•.•
NSF R&D..,,,,, ""." ..,," ".,.,., ,.,.,...,.,.,.,..,..." .•" "".
JRS I\iodernization.: ...............................,.,.,.,..,..
653
188
148
0
1,057,
404
330
0
l,txXl
430
352
494
125
0
' " N!ST ATP ..•...•...•; ......... ,....................................
~>EDA.....................................................................
.
\
~.
~\
".
-~
NOAA...._ ...........................................................
103
94
81
310
�Proposed
Budget Authorityl
Obligations
A. J BJA SCl1ooL......................................-................
49
r+tl\Weatherization..............................,.,_...........,.... .
47
47
EPA Watershed.."""...... _.,_..... " ,"" """"".,..,.,.
Agriculture Watershedm __................................
47
~E National LabS.....,...,........................._....."
.~lA Info Highw.l" .................•_.m....,.•.•.........
Ag Facility Maintenance.....,..,..."..",..............".
BIARoads.......................................................... .
D.C......•.....•.••..,...,..• ,..." ........... ,.".".,. ..".".......... ,
Vehicle COnversion....................
NPS Historic Preservation,,,,....................,,.....,,
EPA: Green-light..................."".. """""""" ....
m
,,,.,,, ............. .
TEFAP............................,......................."...,........
Federal Buildings..............................,.................
Building Conservation".,,,,,,,,,,,,.,,,,,,,, ...,,.......... .
,
NSF Netmvrldng..... _....,.. ,,, ................,,..............
Worker Profiling ......."" ....,.... .,., ....." ..................
~NIST Networking...............................................
NIH NetwnI'king.........................................,..,....
EEOC..................................
m
..............................
BLA Loans......._.._..........................._....... " ........
FmHASingle-Family.......................................
NASA Networking......."'., ..,.._................._....~."
DOC MBDA........,"'.""...., ..".."."......... ,....... ,,,.,
47
1993
1994
Jobs
Job,
100
200
282
2IiO
451
325
0
2IiO
170
150
0
0
704
305
64
216
122
3&
282
33
28
28
1,270
0
235
425
23
23
23
19
19
19
14
14
9
9
.6
6
5
4
2
FmHA Loans................................_".."..,.......... ..
Subtotal. Proposals with
Delayed Availability
DA and Obligations ................. .
BA Only................................... .
1
Total. Slimulus Proposals........................,
19.646
300
169
225
0
0
0
85
94
103
0
140
66
156
W
0
810
0
0
0
0
0
332
0
0
38
0
0
0
.0
w
Q
8p50
218,025
206,939
Memo-randum: Stimulus proposals OOt included in Supplemental Appropriations Bill:
ITC.............................,...................,........,.,.,.,.,....
6,442 ••••
l00,(XX)
83 •• *
1,090
HUD Modernization.".."."",.."."... """",..,....,..
200,000
2,'lOO
"
Qbliga:rons
.. a
Budget authotity and obligations
Outlays
aU
• 'a "Tax expenditure
11 In certain cases, availability of funding will need to he extende<.l into FY 1994,'
�'. I
March 13, 1993
Agenda: Review of Revenue proposals
r.
!toditiedBTU"TaX
II.
Non-Deductibility of Lobbying Expenses
III.
international Proposals
IV.
Executive Compensation
V.
capital Gains Relief
VI.
investment Tax Credit
VII. Real Estate proposals
VIII.Miscellaneous Proposals
Enterprise aones
Changes in tax rates
Puerto Rico tax credit
B'llsiness meals
�Modified BTU Tax
A.
Point of imposition for natural gas.
e ommendation: The tax should be imposed on the local
distribution company and on industrial users that receive
gas directly from the pipeline. The pipeline would collect
and pay over the tax.
Raticmale: The principal alternatives were upstream
impoE;ition on the producer or pipeline (rejected because
they might be unable to pass the tax through) and imposition
on end users (rejected because of full visibility of a
direc:t tax on consumers and collection problems).
Point of imposition for electricity.
B.
Recommendation: The tax should be imposed on electricity
from hydro and nuclear and on fossil fuel used to generate
/electricity. The generator would pay the tax on (i)
Velectricity produced from hydro and nuclear and (ii) except
in the case of previously-taxed oil or natural gas, fossil
fuel used to generate electricity. Independent power
producers with pre-effective-date, fixed-price contracts
would effectively be permitted to pass through the tax to
the utility through a credit mechanism.
Rationale: The principal alternative was imposition on end
users (rejected because of full visibility of a direct tax
on cClnsumers and collection problems) .
IftF
Energy used in manufacturing.
~
Recommendation:, No special treatment for energy used in
'-'-'l\"\,; \:;..rf\)~manUfacturing (aj..:thpugh self-genera~energy-us~ed in energy
~ Ol; production would ,be' exeIiipt)sh-OUl:d-be provided. ~.
&~[~
Rationale:
The principal alternatives were an exemption for
energy used in manufacturing (rejected because of revenue
loss and loss of conservation incentives) and a combination
of import taxes and export rebates to offset the price
effects of the tax (rejected because of problems under our
trade agreements and doubt as to whether an offset is
economically necessary) .
D.
Home heating oil.
VcM-r gil{e..--l,(p~(POO mi 1110Vi
Recommendation:
The proposal as announced taxes home
heating oil at the oil rate, with a delayed phase-in of the
difference between the oil rate and the natural gas rate.
An alternative, more favorable, treatment of home heating
oil would be to tax it at the natural gas rate. This would
lose approximately $600 million over the budget window, by
�comparison with the original proposal.
are also being explored~
E.
Other alternatives
Hydroelectricity.
Recommendation:
Hydroelectricity should be taxed at a rate
equal to the average tax burden on fossil-fuel electricity.
~r,;~~~~.rj.~T;~h~;e~yprincipal alternatives were taxing
~~
·'at4·one-third~·of._that .. rate. to ,reflect the
that no heat is lost in its generation or to exempt
hydroelectricity (both rejected because of revenue loss, the
need for regional balance, and problems under our trade
agreements if imported electricity were taxed at a higher
rate) .
F.
EthaTIOl.
I
o'~1
:1 ~,.{VI
c:
f I ' , t c f w , A J ' j t ' - S r£lD.
Recommendation: Ethanol/shoUld be taxed at the oi"'l-rca-te.._--
(NotE!: this results in a slightly lower tax on ethanol, as
a percentage of price, than on the same volume of gasoline,
because ethanol has a lower BTU content.)
Rationale: The principal alternatives are taxing ethanol at
the natural gas rate or exempting it completely. These were
both rejected because they would distort the gasoline
market. In addition, there is doubt as to whether ethanol
is as benign environmentally as its proponents claim. A
third alternative (more favorable) treatment for ethanol
. would be to provide a partial exemption for small ethanol
producers.
�Non-deductibility of Lobbyinq EXpenses
A.
Should lobbying include Executive Branch contacts regarding
non-legislative actions?
Recommendation: The proposal denies the lobbying deduction
for lobbying the legislative branch and for contact with the
, ~ executive branch on legislative matters. It does not,
ljJ(LS~, however i"'apply "to' attempts to·-inf-luence the .executive. branch
=b
~~.
~Irn
~n regulations or policies set through the adjudication
'ruJ.u;.
tm. p'h~ess .
fvvCV1~ Rationale:
~rlSO.r
:wt.r
B.
Regular contacts with the executive branch are a
fact of life for many businesses -- rules and regulations
need clarification, licenses ~ust be approved, and rates
must be set. If too many non-legislative contacts are swept
into the rule there will be substantial legitimate
complaints.
The proposal applies the lobbying rules to trade
associations.
The rule works by denying a deduction for the part of trade
association membership dues that are used for lobbying~
This would involve some recordkeeping that trade
associations may complain about.
c.
Existing law places certain restrictions on lobbying by
charitable organizations.
Recommendation:
not be tightened.
The limits on charitable lobbying should
Rationale: Under current law, a charity's lobbying
expenditures may not exceed an insubstantial amount.
limit is extremelY hard to enforce.
This
If there is an attempt
to tighten these rules, there will likely be a tremendous
political response. When the IRS originally drafted
regulations on these rules, they received over 20,000
comments.
�International Proposals
A.
Elimination of deferral for foreign subsidiaries of U.S.
C'rations.
The proposal triggers U.S. tax on the
ccumulated earnings of foreign corporations owned by U.S.
multi.nationals to the extent that passive assets exceed 25
percent of total assets.
~
Rationale:
Few compelling reasons exist for stockpiling
passi ve-·assets~·offshore .. other··,than_:tax ..planning .
Treat,ment of royalties. The proposal separately groups
royalty income (which is typically low-taxed in foreign
jurisdictions) with passive income (which also is typically
low-taxed) for purposes of the foreign tax credit.
B.
ationa e: This would eliminate the existing tax preference
for licensing of intangible property for use in foreign
production. The proposal prevents U.S. 'multinationals from
sheltering royalty income from residual U.S. tax by
crediting high foreign taxes paid on active business income
and removes one tax incentive for locating manufacturing
facilities abroad. See attached example.
The 1986 Tax Act prevented U.S. multinationals from
sheltering other types of income with foreign tax credits,
but did not cover most royalties. Since the 1986 Tax Act,
the amount of royalty income from foreign sources
dramatically increased -- it more than tripled from $4.2
billion in 1985 to $12.8 billion in 1991.
In contrast, the
growth in royalty income prior to this period was modest
(from 1982 to 1985, royalties increased a mere 17 percent).
It appears that tax planning was a principal reason for the
dramatic increase in royalty payments to U.S. multinationals
after 1986.
c.
I
/
Transfer pricing initiative. The proposal would impose a
stiff penalty on businesses that fail to establish and
document their transfer pricing methodology before they file
their tax returns. The Administration proposal was scored
by Treasury to raise $3.8 billion over the period. Joint
Tax's estimate was considerably lower--$250 million.
Explanation: While Joint Tax has not shared its assumptions
with Treasury, the difference must be because either they
perceive the transfer pricing compliance problem to be much
smaller than widely believed, or they believe that the
proposal would have little impact on the compliance problem
that exists. The Treasury disagrees strongly. Joint Tax
has a history of assigning extremely conservative estimates
to compliance initiatives.
Attachment
�Executive compensation
A.
How should officers covered by the proposal be defined?
/
j
RecoDlDlendation:
The SEC disclosure approach should be
followed (the top 5b~~g}~~r!J~~ publicly-traded
corporations) .
pu iL<.l»ojTYt'UJ'U. C(JYVI~·
Alternatives: The primary alternatives were (1) treating
the' CEO as··the-only off-icer ·and .(2) .using the H.R. 4210
approach of including all officers of the taxpayer or-
perscms with the authority of an officer.
~
B.
How should the rules be applied to pre-existing compensation
arrangements?
~Recommendation:
Binding employment contracts and options
already granted should be grandfathered. J1V~b
Alternative:
C.
Do not include any grandfather provision.
How should productivity be defined? Under the proposal,
deductions would be denied for all compensation in excess of
$1 million, unless it is ulinked to productivity." Three
possible approaches to this exception are:
1.
The productivity-based exception could be limited to
commissions and similar payments based directly on the
individual's performance (~ brokers, salespersons
and traders).
Revenue gain is about $1.2 billion over 5 years
2.
'rhe productivity-based exception described in option
(l) could be expanded to include stock options and
other stock-based compensation meeting the following
conditions:
a. Minimum 3-year period between grant and exercise;
b. Strike price does not exceed fair market value on
date of issue; and
I:. Shareholder vote to approve grant of option.
Revenue gain is about $1.0 billion over 5 years.
3 °
necommendation: In addition to the exception for
commissions described in option (1), compensation would
not be subject to the $1 million cap if:
�a. Independent directors establish in advance the
criteria by which an officer's performance will be
measured and the method on which the officer's
compensation will be based;
b. Shareholders vote to approve the compensation
criteria established by the independent directors; and
c. Prior to the payment of the compensation, the
'independent-directors certify in writinq that the
covered officer's performance related compensation is
justified based on the factors established in advance.
Revenue
gsin is about $600 million over 5 years.
�Capital Gains Relief
A.
Should "seed capital" incentives be provided for small firms
(capitalization of less than $5 million)? The Bumpers bill
includes a IIsliding scale" capital gains cut for seed
capital investments held for more than 5 years, resulting in
a 0 percent capital gains rate for seed capital investments
held for 10 years or more.
(The Administration's proposal,
as announced on February 17, did not include this
.
provision) .
Recommendation:
l
B.
j
A 0 percent rate should not be provided.
Rationale: A 100% exclusion is not necessary to stimulate
investment. The last time the capital gains rate was in the
14% range (the rate that effectively applies under the
Administration's proposal when 50% of gain is excluded and
the maximum capital gains rate for individuals is 28
percent) was in the 1930's, when the ordinary income rate
was over 80 percent (and capital gains were taxed at a 15
percent rate). Moreover, the abundant tax shelter
opportunities from excluding all gain from tax will
undermine the credibility of the Administration's program.
Should there be a cap on the amount of capital gain eligible
for exclusion from income? (The Administration's proposal,
as announced on February 17, capped the gain eligible for
the 50 percent exclusion at the greater of $1 million or 10
times the taxpayer's investment.)
Recommendation:
The amount of capital gain eligible for
exclusion should be limited to tne greater of $10 million or
10 times original investment.
Rationale: This is a tax equity issue. The tax benefit
should be targeted to produce the maximum incentive effect,
without creating windfalls. Note that the 10 times original
investment rule, when combined with a $50 million maximum
capitalization rule (see below), means that up to $500
millil:>n of gain per company potentially would qualify for
the exclusion.
c. What :3hould be the maximum size for a corporation that
may
issue stock eligible for the capital gains exclusion? (The
Bumpers bill has a ceiling $100 million capitalization and
the Flabruary 17 Administration proposal provided a $25
millic)n cap.)
Recommendation: Firms should be limited to a maximum
capitalization of $50 million.
Rationale: 99 percent of corporations have less than $25
million or less of assets. In addition, if the $100 million
threshold is adopted, sUbstantial erosion of tax base may
�occur in the future {today's smaller corporations are
tomorrow's larger ones}. Note that the benefit of the
capital gains provision extends to a large variety of
businesses, not just high-tech companies.
D.
Should S corporation stock be eliqible for the oapital gains
exclusion?
~
Recommendation:
S corporati~tockqould,
- rM! fVtM,,,,
not be pli<;Jib,le.,
0tW WS ol~ ra;ol:1a{r/
Rationale: Allowing an exclu 'on for S corporation ~tock
will result in tax shelters. S corporations are "pass
through" entities similar to partnerships. Deductions
within an S corporation are passed through to shareholders
as ordinary deductions, but corresponding capital gain on
sale of the S corporation stock will be eligible for
exclusion~
This is a classic tax shelter.
The Bumpers bill does not prevent the
abuse~
Assume a
$100 machine that retains its value over time, but the cost
of which is deducted through depreciation over 5 years (the
same' point~· can 'be 'made' for 'any case ,in which, economic
depreciation is slower than tax depreciation). The $100 of
depreciation shelters $100 of operating income, and there is
no adjustment to the S corporation shareholder's basis. If
the shareholder sells his stock, he will realize a $100 gain
(the business holds $100 of cash and a machine still worth
$100) attributable to the excess of tax depreciation oyer
economic depreciation~ This: gain will be capital gain
. eligible-for the exclusion. Thus, the taxpayer gets $100 of
depreciation deductions, but may exclude $50 of the
corresponding capital gains. This is a pure tax benefit,
without economic substance. Although the Bumpers bill
includes a special basis adjustment rule for losses, it does
not alter this result when an S corporation has income.
~umpers' list of excluded businesses does not solve the
shelter problem. Most businesses have tax depreciation in
excess of economic depreciation on their fixed assets.
other tax benefits (e.g., investment tax credits and
depletion) produce similar results.
There is no simple solution to this problem. It is not
possihle to isolate the economic depreciation of equipment.
An analogous problem in the area of partnership taxation has
led to one of the most complex and controversial provisions
of current law. Even if the problem could be solved, the
solution would be difficult to enforce and would impose
complexity on small businesses.
�E.
Should corporate shareholders be eligible for the exclusion?
Recommendation: Corporate investors should not be eliqible
because of the resulting complications and abuse potential.
Ratio.n..s.lg: Complex "aggregation" rules may be necessary to
prevent corporate split-ups. Thera is no need to provide
incentives for large companies to spin off promising
technologies to gain a tax benefit.
/A~
;S
Cap/M
(~pl
Cc ?1YYl Jj' bus//Ll,<;)<:J
f}oi' a..- !I..ffW.... btfS/~
-
�Investment Tax credit
A.
The pre-1986 investment tax credit generally applied to
tangible personal property. Although the Administration
proposal generally follows the outlines of the pre-1.986
credit, certain property eligible for the pre-1.986 credit
should be excluded from the Administration proposal.
A
"
B.
econmendatiQU: (1) Movies, videos, sound recordings and TV
··sh·ows....should.....be"'excluded-because ..these._readily lead to
shelter activity, have resulted in protracted litigation
with the IRS, and generally should not be treated as
tangible property. (2) Merchant marine capital funds should
not be included because they already enjoy substantial tax
advantages (i.e., a deduction for contributions to the fUnd
and tax-free inside buildup). (3) Sin'lle purpose non
agricultural structures should be excluded because they
generated economic distortions (taxpayers would use a series
of single purpose structures to obtain the credit, rather
than one more efficient building).
<ompute:t;< ~ftware s;hp-uJ,d _c?!,tinue to):>e eXC1UCled
h
. /mf)'lItfl(;UL Wrt~Orrot SOI7tvtJref1llUC(L<!Ay1XA
't:if'~
Recommendation: Computer software has appropriat ly been
treated as an intangible by the courts and the IRS and
therefore was not eligible for the credit. computer
software should not be distinquished from other intangibles
(such as patents) for purposes of the credit.
1r
Many taxpayers deduct currently the cost of developing or
acquiring computer software* In addition, computer software
used in research and experimentation and new advances in
computer software created by research and experimentation
qualify for the R&E credit.
c~
The credit available for automobiles should be capped.
~
ReCOmm§ngatiQn:
Prior law included a $675 cap that should
be retained. However, the cap should not be adjusted for
inflation. Eliminating or indexing the cap will cost
SUbstantial revenue and will probably not generate
meaningful additional investment.
�Real Estate Proposals
A.
Passive loss relief. The proposal provides passive loss
relief and extends the depreciable life of nonresidential
real property.
1.
The proposal allows real estate professionals,
including brokers, to use rental losses to offset other
real estate income, such as brokerage commissions. The
proposal·..· is,·-identical ,to· the. Senate Finance committee
version of H.R. 11. The Senate version limits losses
to income from real estate trades or businesses. The
House version did not include a similar limit (real
estate losses could offset all income).
2.
The Administration proposal extends the depreciable
life of nonresidential real property from 31.5 to 36
years (which largely pays for passive loss relief).
H.R. 11 proposed an extension from 31.5 to 40 years.
Investments by pensions. The proposal includes relaxation
of ru.les relating to pension investments in real estate (for
example, it relaxes limits on seller financing and seller
leasing). Similar rules were included in H.R. 11.
.
~
.
D.
/
Low-income housing credit. The proposal permanently extends
the low-income housing credit (applicable after June 30,
1992)
•
Mortaaae revenue bonds. The proposal permanently extends
mortgage revenue bonds and the mortgage credit certificate
program (applicable after June 3D, 1992).
�Enterprise sones
A.
A schedule for finalizing the proposals must be established.
Discussion: In order for to estimate the revenue impact of
this proposal, it is necessary to have all the
specifications worked out. Although there are many issues
that need to resolved by the staffs, an estimate based on a
detailed proposal -- not just a $4.1 billion plug number -
should be sent to OMB.
Thera is some sentiment to have only 10 zones. Politically,
it will be difficult to propose that Iowa number.
Moreover, 10 zones would use less than the allotted $4.1
billion of tax incentives (the exact amount cannot be
determined without knowing the details of the proposals) .
The staffs have many issues to resolve but a deadline
should be set for them to complete their work -- either
Monday or Tuesday -- so that any of the open issues can be
resolved in time to provide estimates for OMB.
j
Chanq.. in tax rates
A9
The effective date of tha changes in the income tax rates
must be finalized.
~Recommendation:
~ ~orporate, should
The changes in rates, both individual and
be effective as of January 1, 1993.
Ratipnale: An effective date of January 1, 1993 was already
announced publicly without significant adverse reaction in
financial markets. congressional com:tllittees may be reiying
on tiiis announced effective date~ Delay of the effective
date Would result in revenue loss and would allow taxpayers
greater opportunities to manipulate the timing of income and
deductions (e~9., accelerate income into 1993, a low rate
year, and defer deductions into 1994, a high rate year).
Puerto Rioo taB oredit
A.
The proposal would cap the section 936 tax credit at 65
percent of wages paid in Puerto Rico~
B.
It will be argued that the proposal may cause a loss of jobs
in Puerto Rico (although the wage credit cap minimizes this.
consIstent with the reVenue target).
C.
It wlll be argued that the proposal may cause some
disruption to the Puerto Rican banking systems as deposits
are withdrawn by the companies affected. It will also be
�argued that the result may be an increase in the cost of
borrowing in Puerto Rico, including on home mortgages.
TreaBury is waiting for a proposal from the Puerto Rican
government to address this issue, and is considering other
options as well.
Business meals
A.
The proposal is to make 50 percent of the expense for
business meals and entertainment non-deductible.'
COmmE!Dt: Under current law, 20 percent of the expenses for
business meals and entertainment are non-deductible. There
is likely to be considerable opposition to this proposal
which raises $16 billion over'S years.
(
�I
,
j
j
j
j
j
�
Dublin Core
The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/.
Title
A name given to the resource
Clinton Administration History Project
Creator
An entity primarily responsible for making the resource
Cinton Administration History Project
Council of Economic Advisers
Department of Commerce
Central Intelligence Agency
Department of the Interior
Department of Defense
Corporation for National Service
Council on Environmental Quality
Department of Justice
Domestic Policy Council
Department of Education
Department of Energy
Environmental Protection Agency
Federal Emergency Management Agency
General Services Administration
Small Business Administration
Social Security Administration
United States Agency for International Development
National Economic Council
Office of Management & Budget
Office of National Drug Control Policy
Office of Personnel Management
Office of Science & Technology Policy
Office of the Vice President
United States Trade Representative
Date
A point or period of time associated with an event in the lifecycle of the resource
1993-2001
Description
An account of the resource
<p>The Clinton Administration History Project describes in detail the accomplishments of President Clinton's Administration for the period 1993-2001. The records consist of the histories of 32 agencies or departments within the Executive Branch. In general, each organization associated with the Project submitted a narrative history along with supporting documents. These narrative accounts are primarily overviews of the various missions, special projects, and accomplishments of the agencies. The supplementary records include substantive memos, press releases, briefing papers, and publications illustrated with photos and charts.</p>
<p>Agencies:<br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Council+of+Economic+Advisers&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Council of Economic Advisers</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Central+Intelligence+Agency&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Central Intelligence Agency</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+Commerce&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of Commerce</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+the+Interior&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of the Interior</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+Defense&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of Defense</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Corporation+for+National+Service&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Corporation for National Service</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Council+on+Environmental+Quality&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Council on Environmental Quality</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+Justice&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of Justice</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Domestic+Policy+Council&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Domestic Policy Council</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+Education&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of Education</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+Energy&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of Energy</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Environmental+Protection+Agency&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Environmental Protection Agency</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Federal+Emergency+Management+Agency&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Federal Emergency Management Agency</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+General+Services+Administration&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the General Services Administration</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+Health+and+Human+Services&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of Health and Human Services</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+Housing+and+Urban+Development&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of Housing and Urban Development</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+Labor&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of Labor</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+National+Economic+Council&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the National Economic Council</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Office+of+Management+and+Budget&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Office of Management and Budget</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Office+of+National+Drug+Control+Policy&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Office of National Drug Control Policy</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Office+of+Personnel+Management&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Office of Personnel Management</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Office+of+Science+and+Technology+Policy&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Office of Science and Technology Policy</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Office+of+the+Vice+President&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Office of the Vice President</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Small+Business+Administration&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Small Business Administration</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Social+Security+Administration&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Social Security Administration</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+State&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of State</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+Transportation&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of Transportation</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+the+Treasury&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of the Treasury</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+United+States+Agency+for+International+Development&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the United States Agency for International Development</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+United+States+Department+of+Agriculture&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the United States Department of Agriculture</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+United+States+Trade+Representative&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the United States Trade Representative</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?search=&advanced%5B0%5D%5Belement_id%5D=39&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=History+of+the+Department+of+Veterans+Affairs&range=&collection=21&type=&user=&tags=&public=&featured=&exhibit=&submit_search=Search+for+items">History of the Department of Veterans Affairs</a></p>
Is Part Of
A related resource in which the described resource is physically or logically included.
<a href="http://clinton.presidentiallibraries.us/items/show/36051">Collection Finding Aid</a>
Provenance
A statement of any changes in ownership and custody of the resource since its creation that are significant for its authenticity, integrity, and interpretation. The statement may include a description of any changes successive custodians made to the resource.
Clinton Presidential Records: White House Staff and Office Files
Publisher
An entity responsible for making the resource available
Clinton Presidential Library & Museum
Format
The file format, physical medium, or dimensions of the resource
Adobe Acrobat Document
Extent
The size or duration of the resource.
1474 folders in 111 boxes
Text
A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text.
Original Format
The type of object, such as painting, sculpture, paper, photo, and additional data
Paper
Dublin Core
The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/.
Title
A name given to the resource
NEC – Deficit Reduction Plan of 1993 [4]
Creator
An entity primarily responsible for making the resource
History of the National Economic Council
Clinton Administration History Project
Date
A point or period of time associated with an event in the lifecycle of the resource
1993-2001
Is Part Of
A related resource in which the described resource is physically or logically included.
Box 40
<a href="http://clintonlibrary.gov/assets/Documents/Finding-Aids/Systematic/Administration-History-finding-aid.pdf">Collection Finding Aid</a>
<a href="http://catalog.archives.gov/id/1497354">National Archives Catalog Description</a>
Date Valid
Date (often a range) of validity of a resource.
Clinton Presidential Records: White House Staff and Office Files
Format
The file format, physical medium, or dimensions of the resource
Adobe Acrobat Document
Publisher
An entity responsible for making the resource available
Clinton Presidential Library & Museum
Medium
The material or physical carrier of the resource.
Reproduction-Reference
Date Created
Date of creation of the resource.
6/24/2011
Source
A related resource from which the described resource is derived
1497354-nec-deficit-reduction-plan-of-1993-4
1497354