[Senate Report 106-357]
[From the U.S. Government Publishing Office]
106th Congress
2d Session SENATE Report
106-357
_______________________________________________________________________
Calendar No. 708
AWARDING A CONGRESSIONAL GOLD MEDAL
TO FORMER PRESIDENT RONALD REAGAN
AND FORMER FIRST LADY NANCY REAGAN
__________
R E P O R T
OF THE
COMMITTEE ON BANKING, HOUSING,
AND URBAN AFFAIRS
UNITED STATES SENATE
to accompany
S. 2459
July 24 (legislative day, July 21), 2000.--Ordered to be printed
COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS
PHIL GRAMM, Texas, Chairman
RICHARD C. SHELBY, Alabama PAUL S. SARBANES, Maryland
CONNIE MACK, Florida CHRISTOPHER J. DODD, Connecticut
ROBERT F. BENNETT, Utah JOHN F. KERRY, Massachusetts
ROD GRAMS, Minnesota RICHARD H. BRYAN, Nevada
WAYNE ALLARD, Colorado TIM JOHNSON, South Dakota
MICHAEL B. ENZI, Wyoming JACK REED, Rhode Island
CHUCK HAGEL, Nebraska CHARLES E. SCHUMER, New York
RICK SANTORUM, Pennsylvania EVAN BAYH, Indiana
JIM BUNNING, Kentucky JOHN EDWARDS, North Carolina
MIKE CRAPO, Idaho
Wayne A. Abernathy, Staff Director
Steven B. Harris, Democratic Staff Director and Chief Counsel
Madelyn Simmons, Professional Staff
Erin Hansen, Democratic Legislative Assistant
George E. Whittle, Editor
C O N T E N T S
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Page
Introduction..................................................... 1
History of the Legislation....................................... 1
Purpose and Scope................................................ 2
Section-by-Section Analysis...................................... 2
Section 1. Findings.......................................... 2
Section 2. Congressional Gold Medal.......................... 3
Section 3. Duplicate Medals.................................. 3
Section 4. National Medals................................... 3
Section 5. Funding and Proceeds of Sale...................... 3
Regulatory Impact Statement...................................... 3
Cost of Legislation.............................................. 3
Changes in Existing Law (Cordon Rule)............................ 4
Calendar No. 708
106th Congress Report
SENATE
2d Session 106-357
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AWARDING A CONGRESSIONAL GOLD MEDAL TO FORMER PRESIDENT RONALD REAGAN
AND FORMER FIRST LADY NANCY REAGAN
_______
July 24 (legislative day, July 21), 2000.--Ordered to be printed
_______
Mr. Gramm, from the Committee on Banking, Housing, and Urban Affairs,
submitted the following
R E P O R T
[To accompany S. 2459]
The Committee on Banking, Housing, and Urban Affairs to
which was referred the bill (S. 2459) to provide for a gold
medal to be presented on behalf of the Congress to former
President Ronald Reagan and former First Lady Nancy Reagan,
having considered the same, reports favorably thereon without
amendment and recommends that the bill do pass.
INTRODUCTION
On July 13, 2000, the Senate Committee on Banking, Housing,
and Urban Affairs met in legislative session and marked up and
ordered to be reported S. 2459, a bill to provide for the award
of a gold medal on behalf of the Congress to former President
Ronald Reagan and former First Lady Nancy Reagan in recognition
of their service to the Nation, without amendment. The
Committee's action was taken by a voice vote.
HISTORY OF THE LEGISLATION
The Act to award a Congressional Gold Medal on behalf of
the Congress to former President Ronald Reagan and former First
Lady Nancy Reagan for their service to the Nation, S. 2459, was
introduced on April 25, 2000, by Senators Paul Coverdell and
Trent Lott. Senators McCain, Thurmond, Stevens, Helms, Warner,
Murkowski, Jeffords, McConnell, Hatch, Lugar, Collins,
Hutchinson, Crapo, DeWine, Ashcroft, Inhofe, Burns, Sessions,
Kyl, Grams, Mack, Craig, Shelby, Fitzgerald, Abraham, Enzi,
Grassley, Hagel, Domenici, Smith of New Hampshire, Snowe,
Santorum, Gorton, and Hutchison were original cosponsors. S.
2459 has two purposes: first, to strike and present a gold
medal on behalf of the Congress to former President Reagan and
former First Lady Nancy Reagan, and second, to authorize the
Secretary of the Treasury (Secretary) to strike and sell
duplicates in bronze of the gold medal struck under this Act in
an amount sufficient to cover the costs of the medals and the
cost of the gold medal.
There were no Committee hearings held on S. 2459. At the
Committee markup on July 13, no amendments were offered to S.
2459.
PURPOSE AND SCOPE
The bill reported by the Committee authorizes the Secretary
to strike a gold medal for presentation to former President
Reagan and former First Lady Nancy Reagan in recognition of
their service to the Nation. The design of the gold medal shall
have suitable emblems, devices, and inscriptions, to be
determined by the Secretary. The Speaker of the House of
Representatives and the President Pro Tempore of the Senate
shall make appropriate arrangements for the presentation of the
gold medal.
Duplicate medals made of bronze will also be struck and
sold to the public at the direction of the Secretary. The price
of the bronze medals shall be sufficient to cover the cost of
the bronze medals (including labor, materials, dies, use of
machinery, and overhead expenses) and the cost of the gold
medal.
The bill authorizes the appropriation of no more than
$30,000 to pay for the cost of the medals struck under this
Act. This appropriation is to be charged against the United
States Mint Public Enterprise Fund.1 Amounts
received from the sale of duplicate bronze medals under this
Act shall be deposited into the United States Mint Public
Enterprise Fund.
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\1\ P.L. 104-52, the Treasury Department Appropriation Act for
Fiscal Year 1996 consolidated the numismatic and circulating coin
operations of the United States Mint into one revolving fund, the
United States Mint Public Enterprise Fund. This made the Mint's sole
source of funding it's revenue-generating programs rather than an
annual appropriation.
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SECTION-BY-SECTION ANALYSIS
Section 1. Findings
Section 1 provides for Congressional findings. The Congress
finds that both former President Ronald Reagan and former First
Lady Nancy Reagan have distinguished records of public service
to the United States, the American people, and the
international community; as President, Ronald Reagan restored
the great, confident roar of American progress, growth, and
optimism, a pledge which he made before being elected to
office; President Ronald Reagan's leadership was instrumental
in uniting a divided world by bringing about an end to the cold
war; the United States enjoyed sustained economic prosperity
and employment growth during Ronald Reagan's presidency;
President Ronald Reagan's wife Nancy not only served as a
gracious First Lady but also as a proponent for preventing
alcohol and drug use among the Nation's youth by championing
the Just Say No campaign; and together, Ronald and Nancy Reagan
dedicated their lives to promoting national pride and to
bettering the quality of life in the United States and
throughout the world.
Section 2. Congressional Gold Medal
Section 2 provides for the Speaker of the House of
Representatives and the President Pro Tempore of the Senate to
make appropriate arrangements for the presentation, on behalf
of the Congress, of a gold medal of appropriate design to
former President Ronald Reagan and former First Lady Nancy
Reagan. This section also provides for the Secretary to include
suitable emblems, devices, and inscriptions, as the Secretary
determines, in the design of the gold medal.
Section 3. Duplicate medals
Section 3 provides for the Secretary, under such
regulations as the Secretary may prescribe, to strike and sell
duplicate medals in bronze of the gold medal authorized by this
Act. The price of the bronze medals will be determined as to be
sufficient to cover the cost of the bronze medals and the gold
medal.
Section 4. National medals
Section 4 authorizes that the medals struck under this Act
are national medals for purposes of Chapter 51 of title 31,
United States Code.2
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\2\ While there is no statutory definition for ``national medals,''
the medals honor those events that have contributed to and advanced the
history of the country, or those persons whose superior deeds and
achievements have embellished our history or who are representative of
the finest accomplishments in service to the Nation.
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Section 5. Funding and proceeds of sale
Section 5 authorizes that no more than $30,000, to pay for
the cost of the medals authorized by this Act, shall be charged
against the United States Mint Public Enterprise Fund. In
addition, the proceeds from the sale of duplicate bronze medals
shall be deposited into the United States Mint Public
Enterprise Fund.
REGULATORY IMPACT STATEMENT
Pursuant to rule XXVI, paragraph 11(b), of the Standing
Rules of the Senate, the Committee has evaluated the regulatory
impact of the bill and concludes that it will not increase the
net regulatory burden imposed on the Government.
CONGRESSIONAL BUDGET OFFICE COST ESTIMATE
U.S. Congress,
Congressional Budget Office,
Washington, DC, July 21, 2000.
Hon. Phil Gramm,
Chairman, Committee on Banking, Housing, and Urban Affairs, U.S.
Senate, Washington, DC.
Dear Mr. Chairman: The Congressional Budget Office has
prepared the enclosed cost estimate for S. 2459, a bill to
provide for the award of a gold medal on behalf of the Congress
to former President Ronald Reagan and his wife Nancy Reagan in
recognition of their service to the nation.
If you wish further details on this estimate, we will be
pleased to provide them. The CBO staff contact is John R.
Righter.
Sincerely,
Steven Lieberman
(For Dan L. Crippen, Director).
Enclosure.
S. 2459--A bill to provide for the award of a gold medal on behalf of
the Congress to former President Ronald Reagan and his wife
Nancy Reagan in recognition of their service to the nation
S. 2459 would authorize the President to present a gold
medal to former President Ronald Reagan and his wife Nancy
Reagan on behalf of the Congress. To help recover the costs of
the gold medal, which would be financed from the U.S. Mint
Public Enterprise Fund, S. 2459 would authorize the Mint to
strike and sell bronze duplicates of the medal at a price that
covers production costs for both the medal and the duplicates.
Based on the cost of recent medals produced by the Mint,
CBO estimates that enacting S. 2459 would not significantly
affect direct spending. CBO estimates that the gold medal would
cost about $35,000 to produce over fiscal years 2000 and 2001,
including around $5,000 for the cost of the gold and around
$30,000 for the costs to design, engrave, and manufacture the
medal. CBO expects that the Mint would recoup at least some of
its costs by selling bronze duplicates to the public.
Because the bill would affect direct spending, pay-as-you-
go procedures would apply S. 2459 contains no intergovernmental
or private-sector mandates as defined in the Unfunded Mandates
Reform Act and would not affect the budgets of state, local, or
tribal governments.
The CBO staff contact is John R. Righter. This estimate was
approved by Robert A. Sunshine, Assistant Director for Budget
Analysis.
CHANGES IN EXISTING LAW (CORDON RULE)
In the opinion of the Committee, it is necessary to
dispense with the requirements of paragraph 12 of rule XXVI of
the Standing Rules of the Senate in order to expedite the
business of the Senate.