ExecutiveOrdersEO
EO 13037Executive OrderClinton · D

Executive Order 13037

Commission To Study Capital Budgeting

This executive order establishes a bipartisan Commission to Study Capital Budgeting with 11 members to examine how capital budgeting works in other governments and the private sector, define what counts as capital for federal purposes, and assess how a federal capital budget would affect budgetary choices and macroeconomic stability. The Commission must report to the National Economic Council by March 15, 1998, or within one year of its first meeting, after which it terminates 30 days later.

Federal Register Open PDF 62 FR 10185

Impact dates

  1. Commission report due within 1 year of first meeting (alternative to March 15, 1998 deadline)

  2. Commission report due to National Economic Council (alternative: within 1 year of first meeting)

  3. Commission terminates 30 days after submitting report

Key directives

  • Establish bipartisan 11-member Commission on capital budgeting
  • Commission to study capital budgeting practices across sectors and define 'capital' for federal purposes
  • Commission to report to National Economic Council by March 15, 1998 or within 1 year of first meeting
  • Treasury to provide funding and administrative support
  • Commission terminates 30 days after submitting report

Who is ordered

Timeline

Immediate

  • Commission establishment
  • Treasury Department assigned funding and administrative support responsibilities

Near term (90d)

  • Presidential appointment of 11 Commission members and two co-chairs
  • Commission organizational work

Long term

  • Commission study and report delivery
  • Potential structural changes to federal budgeting practices if recommendations adopted

Risks & tensions

  • Dual deadline structure (fixed date vs. floating '1 year from first meeting') creates uncertainty about actual deadline; first meeting date not specified
  • Commission recommendations are advisory only with no mandatory implementation mechanism
  • Uncompensated membership may limit pool of qualified participants or engagement
  • Capital budgeting could theoretically enable deficit spending disguised as investment, though EO frames this as a study rather than policy change
Executive Order 13037: Commission To Study Capital Budgeting · Executive Orders