Carolyn in the News
McCarthy Votes on Numerous Bills to Cut the Deficit and Reduce Wasteful Government Spending
Throughout the 111thCongress, Congresswoman McCarthy has passed legislation to help bring down the deficit and set a path toward long-term fiscal balance. The House has passed numerous bills to reduce the deficit, crack down on wasteful government spending, and impose tough fiscal discipline. In today’s economy Congress must take steps to be more fiscally responsible and continue to pass legislation that combats wasteful spending and ensures that taxpayer dollars are being used efficiently.
The Statutory Pay-As-You-Go Act (enacted into law), reinstituted a requirement to offset new policies that increase mandatory spending or reduce revenues, giving it the force of law. Pay-as-you-go principles created the record budget surpluses the nation enjoyed under President Clinton.
A new House rule requires periodic hearings on waste, fraud and abuse by House committees to ensure that tax dollars are spent wisely.
The Weapon Systems Acquisition Reform Act (enacted into law), saves taxpayers money by cracking down on Pentagon waste and cost overruns, which GAO says amount to $296 billion just for the 96 largest weapons systems.
The Improper Payments Elimination and Recovery Act (enacted into law), cracks down on improper federal payments and will help achieve the President’s goal of reducing wasteful, improper payments by $50 billion between now and 2012.
The Affordable Care Act health insurance reform(enacted into law), the CBO has stated that this will cut the deficit by $124 billion over the next 10 years and by $1.2 trillion over the following 10 years.
The Student Aid and Fiscal Responsibility Act according to CBO this legislation will cut the deficit by $19 billion over the next 10 years.
The American Clean Energy and Security Act according to CBO this bill will cut the deficit by $9 billion over the next 10 years.
The Wall Street Reform and Consumer Protection Act (enacted into law) according to CBO this act will cut the deficit by $3.2 billion over the next 10 years.
The Small Business and Infrastructure Jobs Tax Act according to CBO this bill will cut the deficit by $2.7 billion over the next 10 years.
The Small Business Jobs and Credit Act according to CBO this legislation will cut the deficit by $1.7 billion over the next 10 years.
The Family Smoking Prevention and Tobacco Control Act according to CBO this bill will cut the deficit by $1 billion over the next 10 years.
The Government Efficiency, Effectiveness and Performance Improvement Act cuts hundreds of millions of dollars in government waste by shining light on ineffective federal programs.
The IMPROVE Acquisition Act cleans up DOD acquisition spending for the 80 percent that is for services and other non-weapons items, saving taxpayers an estimated $27 billion a year.
The Surface Transportation Savings Act rescinds $107 million in unspent contract authority for certain transportation programs – thereby ensuring that these funds will not be used to increase spending in the future.
The Surface Transportation Earmark Rescission, Savings and Accountability Act rescinds $713 million in unobligated funding for 309 earmarks contained in previous surface transportation authorizations – thereby ensuring that these funds will not be used to increase spending in the future.
The Budget Enforcement Resolution, sets a limit on discretionary spending for FY 2011 that requires spending cuts of $7 billion below the President’s budget and $3 billion below the Senate resolution.
The Fraud Enforcement and Recovery Act (enacted into law), which protects U.S. taxpayers by giving the Justice Department enhanced authorities to fight fraud in the use of TARP and Recovery Act funds, including increased penalties.
Special Inspector General for TARP Act (enacted into law), strengthens the oversight of the TARP program by expanding the authorities of the Special Inspector General to crack down on waste, fraud and abuse in the use of U.S. taxpayer dollars. Additionally, Democrats demanded taxpayer repayment in the original TARP bill signed by President Bush; those monies are being repaid.
A package of $10 billion in rescissions of FY 2010 spending in order to fully pay for an Education Jobs Fund, which will better ensure that America’s children have access to a quality education this fall by preventing the layoffs of 140,000 teachers.
A package of $1.1 billion for program integrity activities for FY 2010, crack down on waste, fraud and abuse in such programs as Medicare and Medicaid – with research showing that for every $1.00 invested in identifying and eliminating waste, fraud and abuse in government spending, we get $1.50 back.
Posted 00:00AM on August 08 2010 by admin
Categories: press releases
Categories: press releases