National Issues

The President intends to veto H.R. 1585, the National Defense Authorization Act for Fiscal Year 2008 ("NDAA"). One provision in the bill - section 1083 - would significantly amend current law (the Foreign Sovereign Immunities Act) in ways that would imperil Iraqi assets held in the United States, including reconstruction and central bank funds. If enacted, Section 1083 would permit plaintiffs' lawyers immediately to freeze Iraqi funds and would expose Iraq to massive liability in lawsuits concerning the misdeeds of the Saddam Hussein regime. The new democratic government of Iraq, during this crucial period of reconstruction, cannot afford to have its funds entangled in such lawsuits in the United States. Once in place, the restrictions on Iraq's funds that could result from the bill could take months to lift, and thus Section 1083 cannot become law even for a short period of time.

On Thursday, President Bush said, "Laura and I extend our deepest condolences to the family of Benazir Bhutto, to her friends, to her supporters. We send our condolences to the families of the others who were killed in today's violence. And we send our condolences to all the people of Pakistan on this tragic occasion."

MR. STANZEL: Good afternoon, everyone. Happy to take your questions.

SUBJECT: Provision of Aviation Insurance Coverage for Commercial Air Carrier Service in Domestic and International Operations

The President today declared a major disaster exists in the State of Missouri and ordered Federal aid to supplement State and local recovery efforts in the area struck by severe winter storms beginning on December 6, 2007, and continuing.

The modifications and technical rectifications to the HTS set forth in Annexes I and II to this proclamation shall be effective with respect to goods entered, or withdrawn from warehouse for consumption, on or after the later of (i) February 1, 2008, or (ii) the thirtieth day after the date of publication of this proclamation in the Federal Register.