Pen used by President Richard Nixon to sign ‘An Act to provide fiscal assistance to State and local governments, to authorize Federal collection of State individual income taxes, and for other purposes’ (H. R. 14370) on October 20, 1972. The official Parker 'bill signer' pen measures 5.25″ long and features a navy-blue plastic barrel bearing a silver facsimile signature and a silver-tone cap section. Mounted and cloth-matted and framed with its original presentation box and cover, which bears a preprinted signature, a commemorative plate, and a photo of Nixon during the signing to an overall size of 19.75 x 19.75. In fine condition, with noticeable wear to the frame.
On October 13, 1972, Congress completed action on a bill (HR 14370-PL 92-512) establishing a five-year program to share $30,236,400,000 in federal revenues with state and local governments. As cleared, the bill appropriated $30,236,400,000 to a special trust fund for distribution among state and local governments. The conference agreement represented a unique compromise between conflicting House and Senate provisions for allocating revenue-sharing funds. The conference agreement gave states the greater of two amounts available under the different formulas approved by the House and the Senate. The compromise averted a possible stalemate in choosing between the House formula, which generally favored more populous and industrial states, and the Senate formula, which favored less populous states.
