Statement on Signing the Bill Ratifying the Sequestration Order Affecting Funds for Fiscal Year 1986

 

July 31, 1986

 

I have signed today H.J. Res. 672. This act reaffirms the fiscal year 1986 sequestration of funds that was ordered by me on February 1, 1986, pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings). The original order was invalidated by the United States Supreme Court in Bowsher v. Synar because the Court ruled the Comptroller General's role in Gramm-Rudman-Hollings was unconstitutional. This joint resolution also reaffirms the effect on the order of laws enacted after February 1, 1986, and before this act.

 

I recognize that the budget cuts resulting from the fiscal year 1986 sequestration order represent an imperfect way to reduce the Federal budget deficit. However, I remain firmly committed to the goal of a balanced budget and continue to believe that Gramm-Rudman-Hollings provides valuable incentives and tools to reach that goal. It is my hope that the Congress will act to avoid the necessity of a sequestration in fiscal year 1987 by enacting a budget that meets the deficit target of not more than $144 billion.

 

Note: H.J. Res. 672, approved July 31, was assigned Public Law No. 99 - 366.