Federal Daily - August 5, 2008

House Approves VA Spending Bill, Mileage Boost

The House overwhelmingly approved a bill that—among other things—would increase the mileage compensation paid by the Department of Veterans Affairs (VA) by nearly 50 percent to help vets who have to drive long distances to receive medical care. The increase in mileage compensation—to 41.5 cents per mile—was included in the Fiscal Year 2009 Military Construction and Veterans Affairs Appropriations Act, which must still be considered by the Senate and approved by President Bush, said House Appropriations Committee Chairman Dave Obey, D-Wis. The spending bill—which passed 409 to 4—would provide $336 million above Bush’s FY 2009 budget request for servicemember quality-of-life projects to improve living conditions and health care delivery. Projects include the modernization of training facilities, as well as the building of child care centers, barracks and housing, Obey said. The bill also would address the backlog in maintenance at VA medical facilities; improve access to health care for vets in areas where VA does not offer services; increase availability of new generation prosthetics; substantially increase funding for research into trauma, mental health and other critical areas; and provide additional case workers and medical services for homeless vets. To see more, go to: www.obey.house.gov/index.php?option=com_content
&task=view&id=622&Itemid=194.   

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Bush Nominates Hager to Head OPM

President Bush on Aug. 1 announced his nomination of Michael W. Hager to serve as director of the Office of Personnel Management. Hager would replace Linda Springer, who is slated to leave the post in mid-August. Hager currently serves as assistant secretary of Human Resources and Management at the Department of Veterans Affairs. Prior to this, he served as associate administrator in the Office of Capital Access at the Small Business Administration. Hager received his bachelor’s degree in business administration from Bluefield State College in West Virginia. To see more, go to: www.whitehouse.gov/news/releases/2008/08/20080801-4.html.

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House Adopts Bill to Mandate Voter Registration Services for Vets

The House on Aug. 1 adopted a measure that would compel Veterans Affairs (VA) Secretary James Peake to reverse a ban that prohibits VA offices and facilities from allowing on-site voter registration services. The measure was included as language in the $118.7 billion Fiscal Year 2009 Military Construction and Veterans Affairs Appropriations Act (H.R. 6599), which the House approved by a vote of 409 to 4. The voting measure, sponsored by Rep. Chris Murphy, D-Conn., also would help disabled vets living in VA facilities request absentee ballots and provide assistance in completing ballots, Murphy said. By currently not allowing nonpartisan organizations to assist these individuals, many may not be able to vote at all, Murphy said. The current ban has been criticized by a coalition of public interest groups. Recently, a bipartisan group of secretaries of state from more than 20 states issued a letter calling for VA to reconsider its directive. To see more, go to: http://chrismurphy.house.gov/index.cfm?sectionid=
16&parentid=3&sectiontree=3,16&itemid=352.

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TSP Monthly Returns for July 2008

Rates of Return were updated on August 1, 2008.

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.

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