862 



AMENDMENT OFFERED BY MR. SIACK 



Mr. Slack. Mr. Chairman, I offer an amendment. 

 The Clerk read as follows : 



Amendment offered by Mr. Slack : Page 50. after line 13, insert : 

 "(1) Notwithstanding any other provision of this section, the authority to 

 make guarantees or commitments to guarantee under this section shall be effec- 

 tive only to the extent provided in appropriation Acts enacted after the date of 

 enactment of this section." 



Mr. Sl^vck. Mr. Chairman, section 319 of this bill would authorize 

 the Secretary of Commerce to make commitments to guarantee and to 

 guarantee bonds or other evidences of indebtedness which are issued 

 by a coastal State or unit of general purpose local government thereof. 



Let me say again, that I do not object to the bond guarantee program. 

 My amendment would simply give the Congress the opportunity to 

 better control the program and would require that Congress enact 

 appropriations before any guarantee could be made. It is my under- 

 standing that the objective of this amendment is shared by the mana- 

 gers and sponsors of this bill. 



Mr. Chairman, I believe that this amendment will permit Congress 

 to retain control over this program by requiring the program to go 

 through the normal appropriations process. I further believe, 

 Mr. Chairman, that this would be in accord with the intent and the 

 spirit of the Budget Control Act. 



I ask for your support of this amendment. 



Mr Maiion. Mr. Chairman, will the gentleman yield ? 



Mr. Slack. I yield to the gentleman from Texas. 



Mr. Maiion. Mr. Chairman, I wish to commend my colleague, the 

 gentleman from West Virginia, for offering this amendment. The gen- 

 tleman and I have discussed it with the members of the committee. I 

 have been very much pleased with the reception which we have re- 

 ceived. I see the chairman on his feet and I am hopeful he will be able 

 to help us work this out. I am sure the gentleman wants to do whatever 

 is appropriate witli respect to the subject. 



Mr. Slack. Mr. Chairman, I thank the distinguished gentleman from 

 Texas. 



Mr. Murphy of New York. Mr. Chairman, will the gentleman yield? 



Mr. Slack. I yield to the gentleman from New York. 



Mr. Murphy of New York. Mr. Chairman, it is fully within the in- 

 tent of the committee that the appropriation process of the House and, 

 of course, of the Congress, be the controlling factor. I am happy that 

 the gentleman from West A'^irginia has f.gain pointed out to us an 

 area which helps tighten the provisions of this section. 



Mr. DU Pont. Mr. Chairman, will the gentleman yield ? 



Mr. Slack. I yield to the orentleman from Delaware. 



Mr. DU Pont. Mr. Chainnan, the amendment is fully acceptable to 

 the minoi ity side, as Avas the initial amendment. 



The Chairman. The question is on the amendment offered by the 

 gentleman from West Virginia (Mr. Slack) . 



The amendment was agreed to. 



