Search Results

The Federal Reserve's Arrangement for Emergency Loans to Japanese Banks
The U.S. Federal Reserve reportedly has an arrangement with the Bank of Japan to provide emergency loans to Japanese banks operating overseas in exchange for U.S. Treasury securities. The collateralized loans would be extended on short notice for banks facing emergency liquidity needs. The purpose of the arrangement is to forestall the possible sale by Japanese banks of large amounts of U.S. Government securities (thereby raising U.S. interest rates) and to boost confidence in Japan's financial system. The loans would not risk U.S. taxpayers' funds. The Chairmen of both House and Senate Banking Committees have made statements about the arrangement, thus making it a matter oflegislative interest.
World Bank Lending to China
Lending to China from the multilateral development banks (MDBs) increased four-fold between 1985 and 1994, from $1.1 billion to $4.3 billion. China is now the MDBs' largest single borrower country. There is considerable debate today, however, whether the MDBs should continue lending to China. In particular, there is sharp debate whether the World Bank should continue making concessional loans to China.
Appropriations for FY1996 : Interior
This report is about the appropriations for the fiscal Year 1996.
Effects of Flat Taxes and Other Proposals on Housing: An Overview
Studies have estimated that some of these revisions would cause a decline in demand for houses and significant reduction in house prices--perhaps in excess of 15 percent. These studies, however, presumed a fixed supply of housing; even a limited supply response would greatly decrease predicted asset price effects. Supply response is likely to be large in the long run and not insignificant in the short run. Effects on housing demand might also be mitigated by increases in savings rates and lower interest rates. Thus, effects of the flat tax on housing prices are likely to be limited in the short run and very small in the long run. Rental housing demand, on the other hand, would be encouraged with a shift to a consumption tax base.
Vietnam: Economic/Political Developments and U.S. Relations
This report provides an overview of the economic/political developments in Vietnam, including their relationship with the United States.
The Role of Risk Analysis and Risk Management in Environmental Protection
No Description Available.
The Abandoned Mine Land Fund: Grants Distribution and Issues
The Surface Mining Control and Reclamation Act (SMCRA, P.L. 95-87), enacted in 1977, established reclamation standards for all coal surface mining operations, and for the surface effects of underground mining. It also established the Abandoned Mine Land (AML) program to promote the reclamation of sites mined and abandoned prior to the enactment of SMCRA. To finance reclamation of abandoned mine sites, the legislation established fees on coal production. These collections are divided into federal and state shares; subject to annual appropriation, AML funds are distributed annually to states with approved reclamation programs. This report describes the distribution of these funds and the various issues that arise from said distribution.
Environmental Protection: How Much it Costs and Who Pays
A recurring issue in environmental policy is the cost of pollution control imposed on individuals, businesses, and government. To inform policymakers about these costs, a number of surveys and analyses have been conducted over the years. consistent, basic sources have been an annual survey of costs to manufacturers, conducted by the Bureau of Census(BOC), and an annual analysis of total costs, prepared by the Bureau of Economic Analysis(BEA). Overall, the BEA analysis showed the nation spent $122 billion for pollution abatement and control in 1994, or about 1.76% of Gross Domestic Product. Personal consumption expenditures for pollution control were $22 billion, government 435 billion, and business $65 billion. These 1994 data represent the end of the annual series; the BOC survey and BEA analysis have been discontinued
Wildlife Restoration Projects Fund
Since 1937, a cooperative program between the federal and state governments has existed for wildlife restoration. This program provides federal grants-in-aid to state agencies for conservation through land and water management for wild birds and mammals. While up to 8% of the collected revenues from excise taxes dedicated to the program may be retained by the federal government for administration, all remaining funds are apportioned to the states and territories for use either in wildlife restoration or hunter safety and education programs. Wildlife restoration programs receive all funds generated from the excise tax on firearms other than pistols and revolvers and all funds collected from shells and cartridges. Additionally, one-half of the excise taxes collected from pistols, revolvers, and archery equipment goes for wildlife restoration purposes. Hunter safety and education programs are funded from the remaining half of excise taxes collected on pistols, revolvers, and archery equipment. The states have been authorized by law to use hunter safety and education funds for wildlife restoration projects.
Forest Roads: Construction and Financing
This report gives an overview of Forest Roads construction and Financing. It discusses the current road system, statistics over the years.
Forest Roads: Construction and Financing
This report gives an overview of Forest Roads construction and Financing. It discusses the current road system, statistics over the years.
Social Security Financing Reform: Lessons from the 1983 Amendments
No Description Available.
Out-of-State Money in the Congressional Elections of 1992, 1994, and 1996: Trends and Policy Issues
No Description Available.
ISTEA Reauthorization: Highway Related Legislative Proposals in the 105th Congress
Authorizing legislation for federal surface transportation programs highway, highway safety, and transit expired at the end of FY1997. The federal framework for these programs was created by the Intermodal Surface Transportation Efficiency Act of 1991 (P.L. 102-240), better known as ISTEA. ISTEA was the first major highway act of the post interstate highway construction era. As such, it is regarded as landmark legislation.
China and the Multilateral Development Banks
Congress is currently considering appropriations for U.S. contributions to the World Bank and other multilateral development banks (MDBs) as well as separate legislation that would require U.S. representatives to these institutions to oppose all concessional loans to China. This report provides a brief analysis of China’s relationship with the MDBs to highlight some issues and help Members of Congress, congressional staff, and observers better understand the context for the current debates in Congress and the multilateral agencies.
China and the Multilateral Development Banks
Congress is currently considering appropriations for U.S. contributions to the World Bank and other multilateral development banks (MDBs) as well as separate legislation that would require U.S. representatives to these institutions to oppose all concessional loans to China. This report provides a brief analysis of China’s relationship with the MDBs to highlight some issues and help Members of Congress, congressional staff, and observers better understand the context for the current debates in Congress and the multilateral agencies.
Private Mortgage Insurance: Cancellation Options
No Description Available.
The International Monetary Fund's (IMF) Proposed Quota Increase: Issues for Congress
No Description Available.
Africa: Trade and Development Initiatives by the Clinton Administration and Congress
This report summarizes legislation in Congress that President Clinton suggested concerning trade in Africa. Specifically, President Clinton called on Congress during his State of the Union address to pass the legislation.
Africa: Trade and Development Initiatives by the Clinton Administration and Congress
In February 1997, the Clinton Administration submitted the second of five annual reports on the Administration's Comprehensive Trade and Development Policy for Africa as required by section 134 of the Uruguay Round Agreements Act (House Document 103-3415, Vol. 1.). On April 24, 1997, members of the African Trade and Investment Caucus introduced a bill, H.R. 1432, on U.S.-Africa trade and investment issues. In his State of the Union address in January 1998, President Clinton called on Congress to pass the trade legislation.
Consumer Bankruptcy Reform: Proposals Before the 105th Congress
This report examines current consumer bankruptcy practice and the proposals set forth in the reform bills. Also considered are the legislative history of the current consumer bankruptcy scheme, and topics likely to be debated as Congress proceeds to consider consumer bankruptcy reform.
International Financial Institutions and Population Programs: A Survey of Current Activity
This report examines the population or family planning activities financed by the international financial institutions (IFIs), based on a survey of their activities.
Campaign Finance Reform Bills in the 105th Congress: Comparison of H.R. 3485 (Thomas), S. 25 (McCain-Feingold), and Current Law
No Description Available.
Transportation Trust Funds: Budgetary Treatment
Report on the use of transportation trust funds used to fund federal programs, including a discussion of the issues, an explanation of trust fund balances, and more.
Campaign Finance Reform Bills in the 105th Congress: Comparison of H.R. 3581 (Thomas), H.R. 3526 (Shays-Meehan), and Current Law
On March 30, 1998, the House considered four campaign reform bills under a suspension of rules, focusing on the comprehensive H.R. 3581, offered that day for the Republican leadership by Mr. Thomas; it failed passage on a 74-337 vote. (The bill was similar to H.R. 3485, also by Mr. Thomas, reported by the House Oversight Committee March 18.1) The bill generating the most publicity in the 105th Congress has been S. 25 (McCain-Feingold),2 introduced on March 19 as H.R. 3526 by Messrs. Shays and Meehan. This report summarizes and compares H.R. 3581, H.R. 3526, and current law.
Asian Financial Crisis: An Analysis of U.S. Foreign Policy Interests and Options
The principal focus of this report is on the foreign policy ramifications of the Asian financial crisis and U.S. options for addressing them. This report tracks and analyzes the efforts of the most seriously affected Asian countries to deal with their economic and financial problems, and their interaction with the International Monetary Fund (IMF), the United States, and other major sources of financial support and policy advice. It also addresses the implications of the crisis for such U.S. interests as regional stability and the prevention of conflict, trade liberalization, and U.S. regional and global leadership, and discusses the principal factors that could influence the duration and severity of the crisis. A final section considers options for Congress in the context of various criticisms of the IMF’s stabilization programs and the operations of the Fund itself.
Medicare: Financing the Part A Hospital Insurance Program
This report discusses Medicare, which consists of two distinct parts — Part A (Hospital Insurance (HI)) and Part B (Supplementary Medical Insurance (SMI)). Part A is financed primarily through payroll taxes levied on current workers and their employers. Income from these taxes is credited to the HI trust fund. Part B is financed through a combination of monthly premiums paid by current enrollees and general revenues. Income from these sources is credited to the SMI trust fund.
Multiple-Group Federal Credit Unions: An Update
No Description Available.
The Financial Outlook for Social Security and Medicare
This report provides an overview of the financial outlook for social security and medicare programs.
The Financial Outlook for Social Security and Medicare
This report provides an overview of the financial outlook for Social Security and Medicare programs.
Social Security: The Relationship of Taxes and Benefits for Past, Present, and Future Retirees
In recent years considerable public attention has focused on Social Security's treatment of younger versus older workers. Analysts sometimes have addressed this issue by examining the value Social Security provides each generation of workers in relation to the Social Security taxes they pay. These are referred to as "moneys worth" analyses.
One Million Personal Bankruptcies a Year: Economic Implications and Policy Options
This report examines various explanations for the rapid rise in personal bankruptcy filings in the United States since 1980, the economic significance of the phenomenon, and policy options. This discussion and analysis provide a background for consideration of legislation before the 105th Congress ( H.R. 3150 and S. 1301), which proposes to reform the consumer bankruptcy process.
One Million Personal Bankruptcies a Year: Economic Implications and Policy Options
No Description Available.
Campaign Finance Reform: A Legal Analysis of Issue and Express Advocacy
This report consists of campaign finance reform with a legal analysis of issue and express advocacy.
Campaign Finance Reform: A Legal Analysis of Issue and Express Advocacy
Issue advocacy communications have become increasingly popular over the federal election cycles. Often these advertisements could be interpreted to favor or disfavor certain candidates, while also serving to inform the public about a policy issue. However, unlike communications that expressly advocate the election or defeat of a clearly identified candidate, the Supreme Court has ruled that issue ads are constitutionally protected First Amendment speech and cannot be regulated.
Banking Acquisition and Merger Procedures
This report discusses in general terms the basic process and time line for banking industry acquisitions and mergers and briefly discusses the May 4, 1998 application by Travelers Group to merge with Citicorp. Among the issues discussed are: potential impact on consumers; whether the new entities would be too big to fail; and, whether competitive equity calls for financial modernization legislation with functional regulation of the securities, banking, and insurance sectors of companies offering customers a full range of financial products and services. Legislative developments on financial modernization issues in the 105th Congress are reported in CRS Issue Brief 97034, which is available on the Legislative Information System.
Uniform Standards in Private Securities Litigation: Limitations on Shareholder Lawsuits
No Description Available.
Current Social Security Issues
Social Security is the focus of intense public interest. Projected long-range funding problems, public skepticism about its future, and a growing perception that Social Security will not be as good a value for future retirees as it is today are fueling calls for reform. This report discusses a number of the major Social Security issues currently drawing congressional attention.
Consumer Proposals in the Bankruptcy Reform Act of 1998: H.R. 3150, 105th Congress, 2d Session (1998)
This report considers the legislative history of the current consumer bankruptcy scheme. It examines current consumer bankruptcy practice and surveys the consumer proposals set forth in Title I of H.R. 3150, with an emphasis on the likely impact of the bill on family support obligations.
Campaign Finance Debate in the House: Substitute Amendments to H.R. 2183 (105th Congress)
This report summarizes and compares the 11 substitute amendments to campaign finance reform bills that have passed the House and Senate.
Campaign Finance Debate in the House: Substitute Amendments to H.R. 2183 (105th Congress)
This report provides a summary and comparison of the 11 substitute amendments to H.R. 2183, a campaign finance reform bill offered by Representatives Hutchinson and Allen, that, under H. Res. 442, will be in order for consideration by the House. The House began consideration of the bill and these substitute amendments (as well as additional perfecting amendments) on May 21, 1998. This report is intended for use by House Members and staff in preparation for and during House debate and assumes basic familiarity with the underlying issues. It may be updated to reflect further legislative actions.
Highway Funding, the States, and New Air Quality Standards
The Intermodal Surface Transportation Efficiency Act of 1991 (ISTEA), PL. 102-240, set aside $6 billion from FY1992 to FY1997 for the Congestion Mitigation and Air Quality Program (CMAQ) to assist states in complying with federal air quality standards by funding transportation projects that lower emissions.
Restructuring Electricity Markets, Public Power, and Tax-Exempt Bonds: An Economic Analysis
Tax-exempt bonds subsidize public power's cost of capital and enable it to lower price. The subsidy is economically beneficial (enables public power price to reflect the true cost of electric service) only if the private market fails to provide the correct amount of electricity. In general, the private market does provide the correct amount of electricity; in those cases when it does not, the tax-exempt bond subsidy is unlikely to correct the problem. Tax-exempt bond legislation over the last 30 years is consistent with this perspective; its focus has been to prohibit the spread of subsidized public power beyond its traditional service areas.
Are High Interest Rates a Threat to Sustained Economic Recovery?
A major question that arises in Congress during its considerations of what policies promote and what inhibit the restoration of a healthy economy is the influence that interest rates exert. In particular, are high interest rates a threat to sustained economic recovery?
Airport Finance: A Brief Overview
This report considers how airports are managed and financed. Moreover, the report specifies how although airports are public enterprises, they are normally run as businesses.
Securities Litigation Reform: Unfinished Business?
No Description Available.
Campaign Finance Bills in the 105th Congress: Comparison of H.R. 2183 (Hutchinson-Allen), H.R. 3526 (Shays-Meehan), and Current Law
This report is about the Finance reform in May 1998 in the 105th congress.
Campaign Finance Bills in the 105th Congress: Comparison of H.R. 2183 (Hutchison -Allen), H.R. 3526 (Shays-Meehan), and Current Law
As pledged by Speaker Gingrich, the House renewed consideration of campaign finance reform in May 1998. The principal bill is H.R. 2183, known as the freshman bipartisan bill, introduced July 17, 1997, by Messrs. Hutchinson and Allen. Selected floor amendments and substitutes will be in order. The legislation that has generated the most publicity in the 105th Congress has been the McCain-Feingold bill (S. 25), offered on March 19, 1998, as H.R. 3526 by Messrs. Shays and Meehan;1 this has also been offered as substitute amendment no. 13 to H.R. 2183 in the current debate. Table 1 highlights key differences between the two bills, and Table 2 summarizes and compares H.R. 2183, H.R. 3526, and current law.
Budget Surpluses: Economic Effects of Debt Repayment, Tax Cuts, or Spending — An Overview
This report examines economic and budget implications of alternative responses to them.It is basically an Overview of Economic Effects of Debt Repayment, Tax Cuts, or Spending related to Budget Surpluses.
Banking and Finance: Legislative Initiatives in the 105th Congress, Second Session
This report reviews major banking and finance issues that are receiving congressional attention in the 2nd session of the 105th Congress.
Back to Top of Screen