Administration o f George Bush, 1992 / Nov. 4 2283

Remarks at a Welcome Home Ceremony

November 4,1992

Thank you so very much. What a fantastic 

welcome back. Maybe you didn't read the 

election returns; it didn't work out quite the 

way we wanted. This is a fantastic return 

home, and it gives me a chance to just say 

thank you all so very much. I know most in 

one way or another have worked here and 

contributed to this administration of which 

I will always be extraordinarily proud.

I see some leaders here from the Congress. I especially want to thank Bob Dole. 

If you heard him last night, that was a class 

act. We have a great Cabinet, great top officials, and then everybody else helping out 

there. It means so much to Barbara and me.

Now we will go inside, start readjusting. 

But you have given us a marvelous lift. And 

let me just say about the guy standing next 

to me, we are so grateful to Dan Quayle for 

everything he did. The guy almost killed himself out there, hard work day in and day out, 

and what he wasn't doing Marilyn was. And 

so was Barbara Bush. So, I think we owe all 

of them a great vote.

But I can think of nothing other to say 

than say let's finish this job with style, let's 

get the job done, cooperate fully with the 

new administration. The Government goes 

on, as well it should, and we will support 

the new President and give him every chance 

to lead this country into greater heights.

So, I am very grateful to all of you. It's 

been a wonderful 4 years, and nobody can 

take that away from any of us. It's been good 

and strong, and I think we've really contributed something to the country. And maybe 

history will record it that way.

Thank you all very, very much.

Note: The President spoke at 3:03 p.m. on

the South Lawn at the White House.

Memorandum of Disapproval for the Revenue Act of 1992

Novem ber 4,1992

I am withholding my approval of H.R. 11, the “Revenue Act of 1992,'' because it includes numerous tax increases, violates fiscal 

discipline, and would destroy jobs and undermine small business. The urban aid provisions that were once the centerpiece of the 

bill have been submerged by billions of dollars in giveaways to special interests.

My Administration's agenda for tax legislation has been clear from the outset: a focused 

measure to encourage economic growth, address the needs of economically deprived urban and rural areas, and make a limited 

number of significant and broadly supported changes in the tax law. While certain provi­ sions in H.R. 11 meet these objectives, the 

bill as a whole does not. Its 647 pages contain 

more than 600 provisions, require more than 

25 new studies or reports, set up 4 new commissions and advisory groups, and mandate 

numerous new demonstration and pilot 

projects. Most of these provisions are unrelated to the true needs of the economy and 

the American people.

The original focus of the bill—to help revitalize America's inner cities—has been lost in a blizzard of special interest pleadings. In 

fact, the enterprise zones provisions in H.R. 

11 account for less than 10 percent of the 

revenue cost of the measure. While the enterprise zones provisions are a step in the right direction, more than 75 percent of all 

seriously distressed communities are left out 

in the cold. In addition, the capital incentives 

are far too limited. My proposal would grant 

eligibility to all areas that meet objective criteria. My proposal also would provide a complete exclusion from capital gains taxation for 

all investors in enterprise zone businesses, including gains from goodwill, the principal 

asset created by small business.

The bill's other major urban aid provision, 

which authorizes assistance to distressed 

communities, is also inadequate. My “Weed
2284 Nov. 4 / Administration o f George Bush, 1992

and Seed” proposal, currently being implemented on a pilot basis, coordinates Federal 

assistance to drug- and crime-ridden neigh­ borhoods and targets much of the assistance 

to enterprise zone communities. H.R. 11 falls 

short of my plan. The bill adopts a businessas-usual approach to dispensing Federal assistance. It ignores the Administration's bottom-up method of combining strong law en­ forcement with resources to assist residents 

and neighborhoods in attaining economic 

self-sufficiency. Finally, communities cur­ rently benefitting from the pilot program 

could be denied continued funding because 

they may not be located in enterprise zones. 

It is regrettable that the Congress has not 

included a “Weed and Seed” program in a 

bill that I can sign.

The revenue provisions of H.R. 11 include 

some of my proposals, but omit three major 

components of my economic growth agenda. 

These are my proposals to provide a credit for first-time homebuyers; capital gains tax 

relief for start-up businesses; and incentives 

for investment in capital equipment. On balance, the revenue provisions of H.R. 11 are 

unacceptable. They would:

• Raise $33 billion in new taxes over 5 

years on a wide array of American families, workers, and small businesses.

• Increase taxes on individuals, including 

middle-class taxpayers, in numerous 

ways. For example, the bill limits deduc­ tions for moving expenses and for losses resulting from theft, fires, and natural disasters.

• Repeal the 100 percent estimated tax 

safe harbor for small businesses. This 

would throw a monkey wrench into the 

primary engine of job creation.

• Raise numerous taxes on large employers, which will slow the recovery and 

undermine our competitive position in 

world markets.

• Lose about $2.5 billion in revenue as 

a result of more than 50 special relief 

provisions for limited numbers of taxpayers that have no policy justification.

• Impose needless and costly paperwork and recordkeeping burdens on the private sector. H.R. 11 goes 180 degrees in the wrong direction in its treatment of expiring provisions of tax law. It would make permanent 

those expiring measures that are very costly 

and have negligible long-term benefits ac­ cording to a broad range of government and

J

>rivate sector analysts. In contrast, the bill 

ails to make permanent the research and development tax credit and the deduction for 

25 percent of health insurance premiums 

paid by self-employed individuals. It also fails 

to raise the health insurance deduction to 

100 percent, as I have proposed.

The bill's Medicare provisions move in the 

opposite direction from the consensus view 

that we need to contain rising health care 

costs. They would increase Medicare costs 

by an estimated $3 billion over 5 years. For 

example, they invite a flood of costly lawsuits 

to challenge Medicare payments made as long as 6 years ago. These provisions would 

burden the courts and undermine consistent 

nationwide application of Medicare rules. Another costly provision of H.R. 11 would 

permanendy divert income taxes from the 

general fund of the Treasury to the Railroad 

Pension Fund. According to the Railroad Retirement Board, by the year 2016 this taxpayer subsidy could add $13 billion to this 

single industry pension fund. The diversion 

would set a dangerous precedent for other 

industry pension plans that may seek Federal 

taxpayer support in the future.

H.R. 11 abandons all pretense of fiscal discipline. It would increase the deficit in fiscal years 1994, 1995, and 1996. “Mandatory” 

spending would rise by more than $7 billion over 5 years—at a time of growing consensus that this portion of the budget must be brought under control.

The bill also arbitrarily increases statutory 

spending limits to allow roughly $600 million 

in increased payments to Medicare contractors for administrative costs. To benefit these 

companies, the Senate voted by the narrowest possible margin to waive its own rule requiring compliance with legal spending limits. These limits on discretionary spending 

were agreed to by bipartisan majorities of 

both Houses of Congress. It is irresponsible to waive them to benefit one group of companies.

I regret that my disapproval of H.R. 11 will prevent the enactment this year of many 

provisions that have my full support. How­
2285

ever, the bill’s benefits are overwhelmed by 

provisions that would endanger economic 

growth. I am therefore compelled to withhold my approval.

George Bush

The White House,

November 4,1992.

Note: This memorandum follows the text as

released by the Office of the Press Secretary

at the White House on November 4.

Administration of George Bush, 1992 / Nov. 4

Statement on Signing the Veterans Health Care Act of 1992

Novem ber 4,1992

Today I am signing into law H.R. 5193, 

the “Veterans Health Care Act of 1992.” This 

legislation will improve the delivery of health 

care and other services to our Nation’s veterans.

H.R. 5193 implements the Administration’s proposal to establish the Persian Gulf 

War Veterans Health Registry within the De­ partment of Veterans Affairs (VA). This reg­ istry is a reflection of our Nation’s commitment to the men and women who served in 

the Persian Gulf War. Iraqi troops retreating 

from Kuwait maliciously set fire to many Kuwaiti oil wells, blanketing the region in thick 

black smoke. In the aftermath of the war, 

many veterans exposed to those oil fire pollutants and other environmental hazards in 

the area expressed concern for their health. This provision will enable VA to learn more 

about, and deal effectively with, potential 

health problems by providing a complete physical examination to any Persian Gulf veteran who requests it. The results of the examinations will be maintained in the registry 

and will be available if needed for scientific 

research.

H.R. 5193 also authorizes VA to provide 

counseling services to women who suffer the 

trauma of being sexually assaulted or harassed during their military service. Sexual 

harassment of women in any setting is abhorrent. We must continue working to make certain that such behavior does not occur. Nevertheless, when it does occur, we must be

prepared to assist the victims. H.R. 5193 will 

do exacdy that.

A number of other provisions to improve 

services to veterans are included in this bill. 

For example, H.R. 5193 implements an Administration proposal to provide a permanent 

authorization for VA’s State home construction program. Through this VA-State partnership, VA helps with the construction and 

renovation of veterans homes operated by the States. Over the years, these facilities 

have provided much needed nursing home 

and domiciliary care to thousands of disabled 

and elderly veterans. The bill also extends 

VA’s successful respite care program, under 

which disabled veterans living at home are 

hospitalized for short periods to give family 

caregivers a period of “respite.” In addition, 

H.R. 5193 continues a VA scholarship program, used primarily for nurses, which pays 

for a student’s education in exchange for 

service at VA medical facilities.

I have previously warned of the enormous 

and extremely costly burden imposed by var­ ious congressional reporting requirements. 

Notwithstanding these concerns, H.R. 5193 

includes no less than 12 separate provisions requiring the Secretary of Veterans Affairs 

to submit reports to the Congress. I must 

again object to such costly requirements and 

call on the Congress to end the incessant imposition of onerous reporting requirements.

George Bush

The White House,

November 4,1992.

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

at the White House on November 4.

Statement on Signing the National Aeronautics and Space Administration Authorization Act, Fiscal Year 1993

Novem ber 4,1992

Today I am signing into law H.R. 6135, 

the “National Aeronautics and Space Administration Authorization Act, Fiscal Year 

1993.” Our civil space program is a major