| The
Administration supports H.R. 2510, which would extend the expiration
date and authorization of appropriations for the Defense Production
Act through FY 2004.
The
expiration of the Defense Production Act could have a severe impact
on the Nation's ability to respond to national security threats,
both at home and abroad. Thus, passage of H.R. 2510 would ensure
the President's continued ability to provide for the Nation's security
by providing authority to: (1) establish, expand, or maintain essential
domestic industrial capacity; (2) direct priority performance of
contracts and orders to meet approved national security requirements;
and (3) suspend or prohibit a foreign acquisition of a U.S. firm
when that acquisition would present a threat to the Nation's security.
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