3. Ensure that there is no budget bias against long-term investments. OMB, in consultation with the Congress and the CFO Council, should develop a plan for budgeting that recognizes the special nature and long-term benefits of investments in fixed assets through a separate capital budget, operating budget, and cash budget. The plan should be completed by June 1994. The discipline of the cash outlay caps in the Budget Enforcement Act must be maintained, capital budgeting should not be a license to borrow to purchase fixed assets, and capital should be defined narrowly as discussed in this paper.
You can attach your comments to this document. If you enter your email address in the empty box below and click on the submit button, you will receive via email a form that allows you to link your views to the NPR hypertext.
Subscribe Unsubscribe No Action