OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Budget and Accounting Transparency Act of 2012

Floor Speech

Date: Feb. 7, 2012
Location: Washington, DC
Issues: Government Budget and Spending

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Mr. DUNCAN of South Carolina. Madam Chair, I rise today to support H.R. 3581, which will bring better accountability and transparency to our budget process.

I would also note, Madam Chair, that many loan programs that are impacted by this legislation have an excellent history of loan repayment, most notably the Rural Utilities Service loans that electric co-ops like the ones in my district have used for years. Some of these loan programs have provided a positive return on the taxpayers investments, making more for the taxpayers than was at risk while allowing rural co-ops the ability to expand services in underserved areas. I hope that while we achieve much greater accountability and transparency for taxpayers as a result of this legislation, especially as it relates to Freddie and Fannie, we ensure that we don't throw the baby out with the bath water and hurt our rural utilities and their customers.

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