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107th Congress, 2d Session - - - - - - - - - - - - House Document 107-283


 
                    A REQUEST FOR EMERGENCY FUNDING

                               __________

                             COMMUNICATION

                                  from

                   THE PRESIDENT OF THE UNITED STATES

                              transmitting

   A REQUEST TO MAKE AVAILABLE EMERGENCY FUNDS FOR THE DEPARTMENT OF 
          TREASURY'S AIR TRANSPORTATION STABILIZATION PROGRAM

<GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT>


  November 19, 2002.--Referred to the Committee on Appropriations and 
                         ordered to be printed
                                           The White House,
                                     Washington, November 18, 2002.
Hon. J. Dennis Hastert,
Speaker of the House of Representatives,
Washington, DC.
    Dear Mr. Speaker: In accordance with provisions of Public 
Law 107-42, the Air Transportation Safety and System 
Stabilization Act, 2001, I hereby request the subsidy budget 
authority necessary to support a $168 million Federal credit 
instrument for American Trans Air, Inc.
    I hereby designate this subsidy budget authority, currently 
estimated at $16.2 million, as an emergency requirement 
pursuant to section 252(e) of the Balanced Budget and Emergency 
Deficit Control Act of 1985.
    The details of this request are set forth in the enclosed 
letter from the Director of the Office of Management and 
Budget. I concur with his comments and observations.
            Sincerely,
                                                    George W. Bush.
    Enclosure.
                [Estimate No. 27, 107th Cong., 2d Sess.]

                 Executive Office of the President,
                           Office of Management and Budget,
                                 Washington, DC, November 15, 2002.
The President,
The White House.
    Submitted for your consideration is a request to make 
available contingent emergency funds for the Department of the 
Treasury's Air Transportation Stabilization Program account.
    Title I of P.L. 107-42, the Air Transportation Safety and 
System Stabilization Act, 2001, authorized the Government to 
issue up to $10 billion in Federal credit instruments and 
provided the subsidy budget authority necessary for air 
carriers to promote a viable commercial air system in light of 
the September 11th terrorist attacks. Congress designated the 
amount of new budget authority and outlays in all fiscal years 
resulting from this title as an emergency requirement.
    I recommend that you designate this request for such sums 
of subsidy budget authority as may be necessary for a loan 
guarantee to American Trans Air, Inc., currently estimated at 
$16.2 million, as an emergency requirement in accordance with 
section 252(e) of the Balanced Budget and Emergency Deficit 
Control Act of 1985, as amended. This action is necessary to 
account for the proposed extension of Federal guarantees as a 
consequence of the Air Transportation Stabilization Board's 
conditional approval of American Trans Air, Inc.'s application 
on September 26, 2002, and American Trans Air, Inc.'s 
subsequent acquisition of loan financing supported by that 
Federal guarantee. No further congressional action will be 
required.
    I have carefully reviewed this proposal and am satisfied 
that it is necessary at this time. Therefore, I recommend that 
you transmit the request to the Speaker of the House of 
Representatives.
            Sincerely,
                                Mitchell E. Daniels, Jr., Director.
    Enclosure.

  Amounts Made Available by the President Pursuant to Title 1 of P.L. 
  107-42, the Air Transportation Safety and System Stabilization Act, 
                                  2001

Department of the Treasury: Departmental Office:
    Air Transportation Stabilization Program Account: 
      such sums as may be necessary, currently estimated 
      at................................................     $16,212,000

    Title I of P.L. 107-42, the Air Transportation Safety and 
System Stabilization Act, 2001, authorized $10 billion in 
Federal credit instruments and the necessary subsidy budget 
authority and associated outlays. The current estimate of the 
required subsidy to support the $168 million loan backed by a 
$148.5 million Federal guarantee to American Trans Air, Inc. is 
$16.2 million and has been designated by the President as an 
emergency requirement.

                                <all>


Pages: 1

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