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1 (August 12, 1997)

handle is hein.crs/crsuntaahig0001 and id is 1 raw text is: 97-773 GOV August 12, 1997 Citations to Provisions in 1997 Reconciliation Acts Canceled Under the Line Item Veto Act Robert Keith Specialist in American National Government Government Division Background The Line Item Veto Act was enacted into law on April 9, 1996 (Public Law 104-130; 110 Stat. 1200-1212) and became effective on January 1, 1997. The main procedures under the act were incorporated into the Congressional Budget and Impoundment Control Act of 1974, as amended, as a new Part C of Title X (Sections 1021-1027). The act authorizes the President to cancel any dollar amount of discretionary budget authority, any item of new direct spending, or any limited tax benefit in an act if such cancellation will reduce the deficit, not impair any essential government functions, and not harm the national interest. The President may exercise this authority only within five days of signing an act into law. If he chooses to line-item veto any provisions in an act, he must so notify Congress in a special message. Each cancellation must be separately identified by its own reference number. Congress may consider, under expedited procedures set forth in the act, special legislation to disapprove any cancellations. At the end of July 1997, the House and Senate completed action on two reconciliation measures implementing the tax cuts and most of the deficit reduction called for in the FY1998 budget resolution (H.ConRes. 84). The first reconciliation act, the Balanced Budget Act of 1997 (H.R. 2015), makes net reductions in direct spending of $122 billion over the next five fiscal years and increases the statutory limit on the public debt to $5.950 trillion. The second reconciliation act, the Taxpayer Relief Act of 1997 (H.R. 2014), contains tax cuts which partially are offset by revenue increases. The net effect of revenue changes in the Taxpayer Relief Act of 1997, coupled with several revenue provisions in the Balanced Budget Act of 1997 (most notably, an increase in the tobacco tax), is a revenue reduction of $95 billion. President Clinton signed the two measures into law on Tuesday, August 5. The Balanced Budget Act of 1997 is Public Law 105-33 (111 Stat. 251); the Taxpayer Relief Act of 1997 is Public Law 105-34 (111 Stat. 788). On Monday, August 11, President Clinton exercised his authority under the Line Item Veto Act to cancel one item of direct spending in the Balanced Budget Act of 1997 and CRS Reports are prepared for Members and committees of Congress IllllllI/41111&

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