BLACKBURN / PRICE / JORDAN OFFER HOUSE A MENU OF MONEY SAVING OPTIONS
July 28, 2010
Congressmen Marsha Blackburn (TN-7), Tom Price (GA-6), and Jim Jordan (OH-4) will offer tandem amendments this week that could save taxpayers billions in needless Washington spending. The amendments call for a one percent, five percent and up to a 38% cut to the Transportation, Housing, and Urban Development (THUD) Appropriations Bill to be voted on as early as Thursday. A one percent across-the-board cut will save the taxpayer $674 million. A five percent cut will save $3.37 billion. The 38% cut would return the spending level to that of Fiscal Year 2008 prior to the Democrats' failed stimulus package – a savings of $18.6 billion in taxpayer dollars.
THUD funding increased over 20 percent from $55 billion in FY09 to a proposed $67.4 billion in FY11 exclusive of stimulus funding, much of which was spent on transportation projects. Last week the Office of Management and Budget's Mid-Session Review revised debt, deficit, and spending estimates upward. According to OMB, the federal debt will be more than two-thirds of GDP in 2020; $440 billion more than President Obama's February budget estimate. This reflects the 84% increase in non-defense discretionary spending President Obama has presided over.
"Spending in Washington is out-of-control, and the American people are tired of borrowing against our children's future to pay for irresponsible spending today," said Rep. Jordan. "Whether it is taking spending back to the 2008 level, or making across-the-board cuts of one or five percent, now is the time for Congress to stand up and show the American people that we hear their message and we're ready to bring some fiscal responsibility back to this town."
"This week we are giving our colleagues a choice," Blackburn said. "They can save a penny or a nickel on every dollar they spend, or they can even return spending to pre-stimulus levels. The choice will be theirs, but the time for tough choices has come. We may have to spend less to subsidize tickets on Amtrak and we might have to roll back grants to private companies building high speed rail. Families across America are making these tough choices and Washington must do the same. My colleagues can choose to reduce the debt by taking money out of this bill or they can pay it off through tax hikes on small business. I know which one I choose."
"Democrats talk a lot about fiscal responsibility, but when it comes to making the tough choices their support is often timid or outright absent," said Rep. Price. "We are offering our colleagues an opportunity to stand with the American people and take those first necessary steps to make a dent in Washington's spending spree. Rather than raise taxes, Democrats should join us and focus on reducing spending to tackle the mountain of debt being passed on to our children and grandchildren. It is time for concrete, common sense action to restore some fiscal sanity."
THUD funding increased over 20 percent from $55 billion in FY09 to a proposed $67.4 billion in FY11 exclusive of stimulus funding, much of which was spent on transportation projects. Last week the Office of Management and Budget's Mid-Session Review revised debt, deficit, and spending estimates upward. According to OMB, the federal debt will be more than two-thirds of GDP in 2020; $440 billion more than President Obama's February budget estimate. This reflects the 84% increase in non-defense discretionary spending President Obama has presided over.
"Spending in Washington is out-of-control, and the American people are tired of borrowing against our children's future to pay for irresponsible spending today," said Rep. Jordan. "Whether it is taking spending back to the 2008 level, or making across-the-board cuts of one or five percent, now is the time for Congress to stand up and show the American people that we hear their message and we're ready to bring some fiscal responsibility back to this town."
"This week we are giving our colleagues a choice," Blackburn said. "They can save a penny or a nickel on every dollar they spend, or they can even return spending to pre-stimulus levels. The choice will be theirs, but the time for tough choices has come. We may have to spend less to subsidize tickets on Amtrak and we might have to roll back grants to private companies building high speed rail. Families across America are making these tough choices and Washington must do the same. My colleagues can choose to reduce the debt by taking money out of this bill or they can pay it off through tax hikes on small business. I know which one I choose."
"Democrats talk a lot about fiscal responsibility, but when it comes to making the tough choices their support is often timid or outright absent," said Rep. Price. "We are offering our colleagues an opportunity to stand with the American people and take those first necessary steps to make a dent in Washington's spending spree. Rather than raise taxes, Democrats should join us and focus on reducing spending to tackle the mountain of debt being passed on to our children and grandchildren. It is time for concrete, common sense action to restore some fiscal sanity."