Official pen used by President Ronald Reagan to sign the "State and Local Government Cost Estimate Act of 1981 [Public Law 97-108, 97th Congress, H.R. 1465]" into law on December 23, 1981, and personally presented by Reagan to the sponsor of the bill, Congressman Leo Zeferetti. The Parker pen measures 5.25″ in length, and imprinted on the navy blue barrel with “The White House" and Ronald Reagan's facsimile signature in gold. Attractively matted and framed with an original photograph of Reagan shaking hands with Zeferetti shortly after signing the bill into law and an official copy of the bill to an overall size of 14.75 by 11.25. In fine condition. Consignor notes that this originates directly from Zeferetti’s estate.
The bill amended the Congressional Budget Act of 1974 to require the Congressional Budget Office, for every significant bill or resolution reported in the House or the Senate, to prepare and submit an estimate of the cost which would be incurred by state and local governments in carrying out or complying with such bill or resolution.
