U.S. Rep. Bill Foster, D-Naperville, announced that he has become a cosponsor of H.R. 2250, the Spending Reduction Act, which would provide a responsible approach to deficit reduction and replace many of the mindless, across the board cuts implemented through sequestration.
In April, the Government Accountability Office released its annual report to Congress highlighting opportunities to reduce potential duplication in government programs, save tax dollars and enhance revenue. If implemented, these recommendations could potentially amount to approximately $100 billion or more in savings without reducing services or endangering federal programs.
“This report provides a responsible plan for reducing our deficit,” said Foster. “Instead of gutting important programs that millions of families rely on like Head Start, SNAP food assistance and student loans subsidies, we should eliminate these wasteful and duplicative programs the GAO has identified in their report. Hardworking families in the 11th District have to prioritize their spending every day, the Federal government should follow those same standards and ensure that we are responsibly spending taxpayer dollars.”
The bill would provide a framework for achieving the savings outlined by the GAO reports. Specifically, H.R. 2250 would require the head of each Executive agency to issue a report to Congress with their assessment of the GAO’s findings as well as the efforts made by that agency to implement the recommendations. Furthermore, the report would provide estimated costs and savings of implementation, an outline of any legislation necessary to carry out these findings, and an assessment from the Inspector General’s office on whether the agency’s opinion is consistent with the GAO’s findings.