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120853 1 (1983-03-21)

handle is hein.gao/gaobacsyy0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON, D.C. 20548 FOR RELEASE ON DELIVERY MONDAY, MARCH 21, 1983, 10:00 a.m. STATEMENT OF J. DEXTER PEACH, DIRECTOR RESOURCES, COMMUNITY, AND ECONOMIC DEVELOPMENT DIVISION BEFORE THE SENATE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS ON THE DEFENSE PRODUCTION ACT Mr. Chairman and Members of the Committee: We appreciate this opportunity to comment on extending titles I and III of the Defense Production Act (DPA) beyond their current March 31, 1983, expiration date and using the act's title III authorities to provide financial and other assistance to private industry for the production of nonfuel minerals and materials needed for national defense. Title III, together with title I priorities and allocations, facilitates the production of goods and services necessary for national defense. While we agree with extending title I and III authorities, we believe that the Congress should consider amending title III to assure that the economic benefits and costs, as well as the national security implications, of each title III proposal are properly addressed. Further, the Congress should consider amending the act to provide the Congress with ample opportunity to review each title III proposal. I will comment further on these issues after briefly summarizing why we believe that the act's authorities should be extended and GAO's involvement with title III over the past 2 years. 120853

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