JAKE GARN, Utah, Chairman JOHN TOWER, Texas

WILLIAM PROXMIRE, Wisconsin JOHN HEINZ, Pennsylvania

ALAN CRANSTON, California WILLIAM L. ARMSTRONG, Colorado

DONALD W. RIEGLE, JR., Michigan ALFONSE M. D'AMATO, New York

PAUL S. SARBANES, Maryland SLADE GORTON, Washington

CHRISTOPHER J. DODD, Connecticut PAULA HAWKINS, Florida

ALAN J. DIXON, Illinois MACK MATTINGLY, Georgia

JIM SASSER, Tennessee CHIC HECHT, Nevada

FRANK R. LAUTENBERG, New Jersey
PAUL TRIBLE, Virginia

M. DANNY WALL, Staff Director
KENNETH A. McLEAN, Minority Staff Director

(II)

CONTENTS

MONDAY, SEPTEMBER 19, 1983

Opening statement of Senator Trible....

Bill being considered, S. 1679.......

Opening statement of Senator Proxmire.

WITNESSES

Slade Gorton, U.S. Senator, Washington

Prepared statement

Joseph Wright, Deputy Director, Office of Management and Budget.

Prepared statement

Rudolf Penner, Director, Congressional Budget Office.....

Budgetary treatment of FFB financing

Honest Budgeting Act of 1983..

Prepared statement

Direct loans should appear in a unified budget

Credit programs of Federal Government ignored.

Response to written questions from the committee..

Pete Domenici, U.S. Senator, New Mexico

FFB off-budget financing distorts budget

repared statement

Responses to questions on S. 1679

Impact of off-budget FFB financing.

Lawton Chiles, U.S. Senator, Florida:

Prepared statement

The REA excluded from the legislation.

Harry Havens, Assistant Comptroller General, General Accounting Office........

Prepared statement

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87

AFTERNOON SESSION

Guy C. Lewis, Jr., President, National Rural Electric Cooperative Association.

Prepared statement

Reasons for REA to remain off-budget..

Jim Sasser, U.S. Senator, Tennessee...

Charles Dean, Chairman of the Board, Tennessee Valley Authority.

Prepared statement

TVA raises funds through FFB or private sector

TVA is self-sustaining; no cost to taxpayers.

Response to additional questions from Senator Sasser.....

Ron Utt, Deputy Chief Economist, U.S. Chamber of Commerce

Additional proposals offered by Chamber of Commerce.

Prepared statement

Elmer B. Statts, former Comptroller General of the United States, Committee

for Economic Development, accompanied by Frank Schiff.

Prepared statement

Capital budget items need longer term framework look
The National Lending Fund proposal

ADDITIONAL MATERIAL SUPPLIED FOR THE RECORD

Letter submitted by Mortgage Bankers Association of America..

Additional comments by the National Association of Manufacturers...

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