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121083 1 (1983-04-13)

handle is hein.gao/gaobacszn0001 and id is 1 raw text is: 
              UNITED STATES GENERAL ACCOUNTING OFFICE
                      WASHINGTON, D.C.  20548

                               FOR RELEASE ON DELIVERY
                               WEDNESDAY, APRIL 13, 1983,
                               9:30 a.m.

                           STATEMENT OF
         F. KEVIN BOLAND, SENIOR ASSOCIATE DIRECTOR
      RESOURCES, COMMUNITY, AND ECONOMIC DEVELOPMENT DIVISION

                            BEFORE THE
              SUBCOMMITTEE ON ECONOMIC STABILIZATION
       HOUSE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS

                                ON
         AMENDING TITLE III OF 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

September 30, 1983, expiration date.  Title III authorities can be

used to provide financial and other assistance to private  indus-

try.  Title III, together with title I priorities and allocations,

facilitates the production of goods and services necessary for

national defense.  You also requested our views on an August 1982

Federal Emergency Management Agency  (FEMA) proposal for using

title III to help meet the national defense stockpile cobalt goal

and the relationship between this proposal and the administra-

tion's fiscal year 1984 title III budget request.

     Currently, the Congress is considering two title  III fund-ing

initiatives.  First, the Department of Defense has been authorized

$50 million in fiscal year 1983 and has requested an additional

$200 million in fiscal year 1984 for title III purchases and

purchase commitments of metals, minerals, an6 materials.  The

second initiative is H.R. 2057, the Defense Industrial Base





                               73                      121083

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