The purpose of borrowing authority is generally to provide an entity with capital rather than to finance its operations.

Mr. Gingrich said today that he expected to delay any action to increase borrowing authority until after the giant tax and spending bill was finished.

He emphasized that the increased borrowing authority was a "standby plan" to be used only if the economy does not recover.

The reason is that the Treasury must still get Congressional approval for the required borrowing authority.

Mr. Seidman has said the fund is weak and needs additional borrowing authority.

With renewed borrowing authority it could significantly assist a plan to bridge four to five years of deficit financing.

AT&T declined to comment on the tax loss or the borrowing authority.

It wanted the bailout of the fund to be smaller than the Administration suggested, realizing they were committing future profits to any borrowing authority.

Congress can either increase the agency's borrowing authority or make a direct appropriation to cover the shortfall.

"The way to deal with this is up front and not through just increasing borrowing authority," he said.