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<br />- 4 - <br /> <br />,..You know also that rising interest rates are not used <br />by the Congress either to cut large projects out of the <br />Clean Water budget, or to reduce the funds authorized <br />for waste treatment! <br /> <br />Conclusions: <br /> <br />In perspective, 6 7/8% is higher than the real cost to the <br />Federal government of borrowing long-term moneyo Further, 6 7/8% <br />is not a realistic rate for discounting the future benefits from <br />Federal water investments because it has no use in other major <br />Federal programs. <br /> <br />Therefore, the approach in the House bill seems sounder than <br />the proposal of the Senate Committee. .which would stop about <br />half of the Federal-State projects from even beinq studied by <br />Congress! <br /> <br />You may have a different perspective than in this letter. <br />But however you reason, this is a plea to offer your logic to <br />your State government and your Congressional delegation--on the <br />earliest practicable occasion. Some Members think the public <br />lacks appreciation of water investments, .let's show our <br />concern! <br /> <br />BronnU <br />