[Weekly Compilation of Presidential Documents Volume 37, Number 39 (Monday, October 1, 2001)]
[Page 1378]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Letter to the Speaker of the House of Representatives on Emergency 
Funding for Air Carriers

September 25, 2001

Dear Mr. Speaker:

    In accordance with provisions of Public Law 107-42, the Air 
Transportation Safety and System Stabilization Act, I am providing up to 
$5 billion to the Department of Transportation's Compensation for Air 
Carriers account. These funds are urgently needed to enable the Nation's 
air carriers to meet the challenges resulting from the terrorist attacks 
of September 11, 2001.
    I designate the entire $5 billion as an emergency requirement in 
accordance with section 252(e) of the Balanced Budget and Emergency 
Deficit Control Act of 1985, as amended. In addition, I have delegated 
the authority vested under section 101(a)(2) of the Air Transportation 
Safety and System Stabilization Act to the Secretary of Transportation.
    The funds contained in this designation are intended to stabilize 
the air transportation industry and compensate air carriers for direct 
losses resulting from the Secretary of Transportation's order to ground 
all aircraft immediately following the attacks, as well as any similar 
orders that may be issued in the future.
    The details of this request 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,
                                                George W. Bush