FederalDaily - March 7, 2006

Scientists Question NASA’s 2007 Budget

The proposed 2007 NASA budget cuts funds to critical programs and maintains lower priority missions, scientists told the House Committee on Science on March 2. The group of scientists expressed particular concern about funds to independent scientists to study NASA research data, as well as proposed cuts to the NASA research and analysis division, which pays for smaller-scale missions. They advised the committee that smaller scientific missions held more importance than large, flagship missions, and that the proposed budget would make it difficult to attract and retain space and earth scientists. Based on the scientists’ recommendations, Dr. Mary Cleave, NASA associate administrator for science, agreed to review the 2007 proposal for each science division in the agency.

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Relieving Soldiers from Overpayment Strain

The Department of Defense’s (DoD) method of collecting overpayments has resulted in financial hardship and zero-sum paychecks for servicemembers—often with little or no notice, according to Rep. Ron Lewis, R-Ky. These problems prompted Lewis to introduce new legislation. When a member of the U.S. military is accidentally given too much in pay or allowances, current law requires the phased recovery of overpayments. As a result, some soldiers—without warning—receive “no pay due” paychecks. Lewis’ bill, H.R. 4730, would allow no more than 20 percent of a soldier’s paycheck withheld every pay period. In addition, wounded soldiers affected would receive an extra 90-day grace period prior to the deductions. “We cannot stand by while soldiers endure this hardship, bearing the consequences of errors resulting from circumstances beyond their control,” Lewis said.

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Federal Regulations in “Plain English”

If federal regulations were written in easy-to-follow, plain English, it would save small businesses substantial costs that are spent on deciphering complex, ambiguous language, according to Candice Miller, R-Mich. She recently announced her Regulation in Plain English Act of 2006. The bill, a bi-partisan effort, would require federal agencies to write regulations in plain, understandable English. The purpose would be to reduce the time spent by businesses on analyzing complex rules, reduce the number of fines because of misunderstandings, and clarify publicly-available information. Miller said, “There is now compelling evidence that plain language saves enormous amounts of money—and pleases readers. The cost of poor communication is the great hidden waste in government.”

TSP Monthly Returns

Rates of Return were updated on March 1, 2006.

The monthly G, F, C, S, and I Fund returns represent the actual total rates of return used in the monthly allocation of earnings to participant accounts. The returns are shown after deduction of accrued TSP administrative expenses. The F, C, S, and I Fund returns also reflect the deduction of trading costs and accrued investment management fees. The most current G, F, C, S, and I Fund rates of return are shown above. Returns are updated after the monthly allocation of earnings, usually by the fourth business day of the month.

For more information on TSP, click here.

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