June 26, 2001
Administration strongly supports H.R. 2213, as reported by the Committee
on Agriculture. The Administration is pleased that the bill provides
$5.5 billion in assistance, the maximum amount provided for in the
budget resolution, and the maximum amount the Administration believes
is appropriate for FY 2001. The addition of $5.5 billion in assistance
would boost real farm net cash income to an estimated $52.3 billion
for this year, $1.2 billion higher than last year. The Administration
urges Congress to enact H.R. 2213 expeditiously so that assistance
can be made available as soon as possible.
H.R. 2213 would increase direct spending and, therefore, would be subject to the pay-as-you-go requirement of the Omnibus Budget Reconciliation Act of 1990. OMB's preliminary scoring estimate of this bill is that it would increase direct spending by $5.5 billion in Fiscal Year 2001. Final scoring of this legislation may deviate from this estimate. The Administration will work with Congress to ensure that any unintended sequester of spending does not occur under current law or the enactment of any other proposals that meet the President's objectives to reduce the debt, fund priority initiatives, and grant tax relief to all income tax paying Americans.