Statement of Administration Policy: H.R. 4775 - Exemption from Gramm-Rudman-Hollings of VA Home Loan Program

(Revision)
(House)
(Shelby (D) Alabama)

The Administration is strongly opposed to H.R. 4775, which would exempt the Veterans Administration housing loan program from the sequester authority of the Balanced Budget and Emergency Deficit Control Act of 1985. No exemptions to that law's sequester authority should be enacted which involve increasing the deficit, either now or in future years.

Instead of H.R. 4775, the Administration recommends House passage of the Senate-passed bill, S. 2416, which would increase the VA housing loan program limit for fiscal year 1986 from $18.2 billion to $30.9 billion.

If H.R. 4775 were to reach the President's desk in its present form, his senior advisers would recommend disapproval.