[House Document 105-296]
[From the U.S. Government Publishing Office]
105th Congress, 2d Session - - - - - - - - - - - House Document 105-296
COMMODITY CREDIT CORPORATION BUDGET PROGRAM REVISIONS
__________
COMMUNICATION
FROM
THE PRESIDENT OF THE UNITED STATES
transmitting
NOTIFICATION OF BUDGET PROGRAM REVISIONS FOR THE COMMODITY CREDIT
CORPORATION FOR FY 1998 AND FY 1999 TOTALING $600 MILLION, PURSUANT TO
15 U.S.C. 714c
August 4, 1998.--Referred to the Committee on Appropriations and
ordered to be printed
The White House,
Washington, August 3, 1998.
The Speaker of the House of Representatives.
Sir: As required by Section 5 of the Commodity Credit
Corporation Act (15 U.S.C. 714c) and the Government Corporation
Control Act (31 U.S.C., Chapter 91), I hereby notify Congress
of budget program revisions for the Commodity Credit
Corporation (CCC) for FY 1998 and FY 1999. The revisions,
totaling up to $600 million, would support the purchase and
donation of domestic wheat and other surplus commodities.
For FY 1998, the FY 1999 Budget estimate for CCC of $8,814
million in net outlays would be increased by $150 million, to
$8,964 million. The FY 1999 estimate of $8,935 million in net
outlays would be increased by up to $450 million, to $9,385
million.
The details of this action are set forth in the enclosed
letter from the Director of the Office of Management and
Budget. I concur with his comments and observations.
Sincerely,
William J. Clinton.
Enclosure.
[Estimate No. 11, 105th Cong., 2d Sess.]
Executive Office of the President,
Office of Management and Budget,
Washington, DC, August 3, 1998.
The President,
The White House.
Submitted for your consideration is a request for FY 1998
and FY 1999 budget revisions totaling up to $600 million for
the purchase and donation of domestic wheat and other surplus
commodities.
In accordance with Section 5 of the Commodity Credit
Corporation Act (15 U.S.C., 714c) and the Government
Corporation Control Act (31 U.S.C., Chapter 91), this request
would constitute an official revision of the budget program for
the Commodity Credit Corporation (CCC) for FY 1998 and FY 1999.
For FY 1998, the FY 1999 Budget estimate for CCC of $8,814
million in net outlays would be increased by $150 million, to
$8,964 million. OMB projects that the FY 1999 estimate of
$8,935 million in net outlays would be increased by up to $450
million, to $9,385 million.
The funds will be used to implement the plan you announced
on July 18, 1998. More than 80 million bushels of U.S. wheat,
wheat flour, and possibly other commodities will be purchased
by CCC and donated overseas to relieve hunger in needy areas of
the world and to strengthen domestic crop prices. The Secretary
of Agriculture has found wheat to be in surplus at this time,
and OMB concurs in his determination. The current estimated
funding needs of up to $600 million in FYs 1998 and 1999 will
allow the purchase of commodities, the ocean freight, and the
internal distribution of the food in the destination countries.
The recipient countries and allocations are being determined by
the Administration and international aid organizations, and
will likely include Indonesia and Sudan. The current cost
estimates have changed since mid-July because of the
substantially higher projected cost for internal food
distribution in the recipient countries. These costs will be
refined, and possibly reduced, as a firm donation plan is
developed with the United Nation's World Food Program and
private voluntary organizations through consultations now
underway.
I have carefully reviewed this proposal and am satisfied
that it is necessary at this time. Therefore, I join the
Secretary of Agriculture in recommending that you approve the
budget program revisions by signing the enclosed letter to the
Speaker of the House of Representatives. No further
congressional action will be required.
Sincerely,
Jacob J. Lew, Director.
Enclosure.
------
Notification Required by the Commodity Credit Corporation and the
Government Corporation Control Act
In accordance with Section 5 of the Commodity Credit
Corporation Act (15 U.S.C. 714c) and the Government Corporation
Control Act (31 U.S.C., Chapter 91), the President has revised
the budget program for the Commodity Credit Corporation (CCC)
for FY 1998 and FY 1999. For FY 1998, the FY 1999 Budget
estimate for CCC of $8,814 million in net outlays would be
increased by $150 million, to $8,964 million. The FY 1999
estimate of $8,935 million in net outlays would be increased by
up to $450 million, to $9,385 million.
The funds will be used to implement the plan the President
announced on July 18, 1998. More than 80 million bushels of
U.S. wheat, wheat flour, and possibly other commodities will be
purchased by CCC and donated overseas to relieve hunger in
needy areas of the world and to strengthen domestic crop
prices. The Secretary of Agriculture has found wheat to be in
surplus at this time, and OMB concurs in his determination. The
current estimated funding needs of up to $600 million in FYs
1998 and 1999 will allow the purchase of commodities, the ocean
freight, and the internal distribution of the food in the
destination countries.