Statement of Administration Policy: H.R. 2801 - World Cup USA 1994 Commemorative Coin Act

(SENT 7/29/91)
(House)
(Torres (D) CA and 227 others)

The Administration has no objection to House passage of H.R. 2801, but will seek Senate amendments to:

• Lower the limits on the numbers of coins to be produced. The mintage limits in H.R. 2801 appear unrealistically high; lower limits would help stimulate demand by the numismatic community.
  
  
• Delete the monthly reporting requirement as it is unnecessary and infeasible. The Mint currently provides yearly reports to Congress.
  
  
• Delete the requirement that all remaining funds from the sale of coins be deemed surcharges to be provided to designated organizations. If remaining funds become available, they should go into the General Fund to avoid a conflict of interest in coin cost and pricing decisions.

Scoring for Purposes of Pay-As-You-Go

The Omnibus Budget Reconciliation Act (OBRA) requires that all revenue and direct spending legislation meet a pay-as-you-go (PAYGO) requirement. That is, no such bill should result in an increase in the deficit; and if it does, it will trigger a sequester if it is not fully offset. Offsetting collections in this bill would equal its increase in direct spending, resulting in a net zero PAYGO effect. Thus, considered alone, this bill meets the PAYGO requirement of OBRA.