Administration of George Bush, 1992 / Oct. 29 2187

stitutional difficulties. Section 1313 would 

authorize the Director of the newly established Office of Federal Housing Enterprise 

Oversight within HUD to submit “reports, 

recommendations, testimony, or comments” 

to the Congress without prior approval or review by “any officer or agency of the United 

States.” The bill also provides the Director 

authority, exclusive of the Secretary of Housing and Urban Development, to promulgate 

safety and soundness regulations and to formulate an annual budget. When a member 

of the executive branch acts in an official capacity, the Constitution requires that I have 

the ultimate authority to supervise that officer in the exercise of his or her duties. In 

order to avoid constitutional difficulties, and 

without recognizing the Congress’ authority 

to prevent the Secretary from supervising on 

my behalf an agency within HUD, I will interpret this provision to permit me to supervise the Director through other means, such 

as through the Office of Management and 

Budget.

Section 911 of the bill requires the Secretary of Housing and Urban Development 

to establish guidelines for housing credit 

agencies to “implement” section 102(d) of 

the Department of Housing and Urban Development Reform Act of 1989 (42 U.S.C. 

3545(d)). That provision requires the Secretary to certify that HUD assistance to housing projects is not more than necessary to 

provide affordable housing, after taking other 

Federal and State assistance into account, 

and to adjust the amount of HUD assistance 

to compensate for changes in assistance 

amounts from other sources. To avoid the 

constitutional difficulties that would arise if 

section 911 were understood to vest in housing credit agencies the exercise of significant 

authority under Federal law, I interpret section 911 to permit the Secretary to formulate 

guidelines under which he will retain the ultimate authority to make the determinations 

required by section 102(d).

George Bush

The White House,

October 28,1992.

Note: This statement follows the text as released by the Office of the Press Secretary

at the White House on October 29.

Statement on Signing the

Agricultural Credit Improvement

Act o f1992

October 28,1992

Today I am signing into law H.R. 6129, 

the “Agricultural Credit Improvement Act of 

1992,” which modifies the Farmers Home 

Administration program.

Although I have signed H.R. 6129, I will 

withhold my approval of H.R. 6138 because 

it is identical to section 24 of H.R. 6129.

George Bush

The White House,

October 28,1992.

Note: This statement follows the text as released by the Office o f the Press Secretary

at the White House on October 29.

Statement on Signing the Defense

Production Act Amendments of 1992

October 28,1992

Today I have signed into law S. 347, the 

“Defense Production Act Amendments of 

1992.”

The Defense Production Act (DPA) provides the President with extraordinary authority to establish production and material 

allocation priorities when the national defense so requires. The DPA expired on 

March 1, 1992. Enactment of S. 347 restores 

that authority through September 30, 1995. 

The availability of these authorities to the 

President, in the event of unexpected national defense crises, enables him to ensure 

that the Nation wall have the equipment and 

supplies it needs under all circumstances.

I must, however, note several reservations 

that I have regarding sections 124, 135, and