[Federal Register: October 17, 1997 (Volume 62, Number 201)] [Notices] [Page 54337-54338] From the Federal Register Online via GPO Access [wais.access.gpo.gov] [DOCID:fr17oc97-162] [[Page 54337]] _______________________________________________________________________ Part V Office of Management and Budget _______________________________________________________________________ Cancellation Pursuant to Line Item Veto Act; Treasury and General Government Appropriations Act, 1998; Notices [[Page 54338]] OFFICE OF MANAGEMENT AND BUDGET Cancellation Pursuant to Line Item Veto Act; Treasury and General Government Appropriations Act, 1998 October 16, 1997. One Special Message from the President under the Line Item Veto Act is published below. The President signed this message on October 16, 1997. Under the Act, the message is required to be printed in the Federal Register (2 U.S.C. 691a(c)(2)). Clarence C. Crawford, Associate Director for Administration. ----------------------------------------------------------------------- THE WHITE HOUSE Washington, October 16, 1997. Dear Mr. Speaker: In accordance with the Line Item Veto Act, I hereby cancel the dollar amount of discretionary budget authority, as specified in the attached report, contained in the ``Treasury and General Government Appropriations Act, 1998'' (Public Law 105-61; H.R. 2378). I have determined that the cancellation of this amount will reduce the Federal budget deficit, will not impair any essential Government functions, and will not harm the national interest. This letter, together with its attachment, constitutes a special message under section 1022 of the Congressional Budget and Impoundment Control Act of 1974, as amended. Sincerely, William J. Clinton. The Honorable Newt Gingrich, Speaker of the House of Representatives, Washington, D.C. 20515. ----------------------------------------------------------------------- THE WHITE HOUSE Washington, October 16, 1997. Dear Mr. President: In accordance with the Line Item Veto Act, I hereby cancel the dollar amount of discretionary budget authority, as specified in the attached report, contained in the ``Treasury and General Government Appropriations Act, 1998'' (Public Law 105-61; H.R. 2378). I have determined that the cancellation of this amount will reduce the Federal budget deficit, will not impair any essential Government functions, and will not harm the national interest. This letter, together with its attachment, constitutes a special message under section 1022 of the Congressional Budget and Impoundment Control Act of 1974, as amended. Sincerely, William J. Clinton. The Honorable Albert Gore, Jr., President of the Senate, Washington, D.C. 20510. ----------------------------------------------------------------------- Cancellation No. 97-56 CANCELLATION OF DOLLAR AMOUNT OF DISCRETIONARY BUDGET AUTHORITY Report Pursuant to the Line Item Veto Act, P.L. 104-130 Bill Citation: ``Treasury and General Government Appropriations Act, 1998'' (H.R. 2378). 1(A). Dollar Amount of Discretionary Budget Authority: $8,000 thousand in FY 1998, $183,000 thousand in FY 1999, $209,000 thousand in FY 2000, $221,000 thousand in FY 2001, and $233,000 thousand in FY 2002 due to reductions in employee contributions to the Civil Service Retirement and Disability Fund (CSRDF). These reduced contributions would result from employee elections to switch retirement coverage to the Federal Employees Retirement System (FERS) from enrollment in the Civil Service Retirement System (CSRS) that is authorized by Section 642. 1(B). Determinations: This cancellation will reduce the Federal budget deficit, will not impair any essential Government functions, and will not harm the national interest. 1(C), (E). Reasons for Cancellation; Facts, Circumstances, and Considerations Relating to or Bearing Upon the Cancellation; and Estimated Effect of Cancellation on Objects, Purposes, and Programs: Section 642 would require the Office of Personnel Management to conduct an Open Season to permit Federal employees to switch enrollment from CSRS to FERS between July 1, 1998 and December 31, 1998. The estimated impact is the net reduction in employee contributions to the CSRDF trust fund from 7 percent of pay under CSRS to 0.8 percent under FERS. It is estimated that 5 percent of CSRS-covered employees would switch. This provision is being canceled because: (1) it would require the employing agencies to absorb increased retirement costs, using funds that otherwise would be available for payroll and other agency needs; (2) it would inhibit agency downsizing and restructuring efforts by discouraging voluntary turnover; (3) it was not requested in the President's FY 1998 budget; and (4) it was not the subject of extensive deliberation and debate prior to enactment. 1(D). Estimated Fiscal, Economic, and Budgetary Effect of Cancellation: As a result of the cancellation, Federal receipts will not decrease, as specified below. This will have a commensurate effect on the Federal budget deficit and, to that extent, will have a beneficial effect on the economy. Receipt changes [In thousands of dollars] Fiscal year: 1998.................................................... -8,000 1999.................................................... -183,000 2000.................................................... -209,000 2001.................................................... -221,000 2002.................................................... -233,000 ----------- Total................................................. -854,000 1(F). Adjustments to Non-Defense Discretionary Spending Limits Budget authority: The estimated budget authority effect for each year is equal to the receipt changes shown above. Outlays: The estimated outlay effect for each year is equal to the receipt changes shown above. Evaluation of Effects of These Adjustments upon Sequestration Procedures: If a sequestration were required, such sequestration would occur at levels that are reduced by the amounts above. 2(A). Agency: Office of Personnel Management. 2(A). Bureau: None. 2(A). Governmental Function/Project (Account): Civil Service retirement (Civil Service Retirement and Disability Fund). 2(B). States and Congressional Districts Affected: All. 2(C). Total Number of Cancellations (inclusive) in Current Session in each State and District identified above: The provision would have had a national effect. [FR Doc. 97-27914 Filed 10-16-97; 4:12 pm] BILLING CODE 3110-01-P