Today, Sen. Rand Paul introduced Amendment 382, to S.Con. Res. 8, the Budget Resolution, which provides funding of $16 billion towards infrastructure projects for structurally deficient interstate bridges, through offsets in foreign assistance and the Department of Energy's Loan Guarantee Budget. Below is video and transcript of Sen. Paul addressing our nation's infrastructure problem.
All across this country, our nation's bridges are structurally deficient. Many, like the Sherman Minton Bridge in Louisville, and the Brent Spence Bridge in Northern Kentucky, are in need of repair or replacement.
Today I will be proposing an amendment to the budget that will provide $8 billion for bridge repair and replacement across the country and focus another $8 billion toward deficit reduction.
While we are trying in vain to nation build across the globe, our nation is crumbling here at home. I, like many citizens of this country, are angered by our continued practice of borrowing money, only to see it spent on infrastructure projects in foreign countries. In countries that are burning our flag and shout "death to America." I think that should stop.
In addition to funds being wasted overseas, we continue to see the Obama Administration attempting to pick winners and losers in business with total disregard for the taxpayer. Department of Energy Loan Guarantees were given as a means of propping up green energy development. But, when those companies, like Solyndra, went belly-up, it was the American taxpayer that was left handling the bill.
Though unpopular, the federal government can't continue to promise everything to everyone while ignoring the facts that we have limited resources and need to start focusing taxpayer funds where they are most needed.
Prioritizing our resources for development and deficit reduction is the first and important step.
In the coming days, the Senate will finally consider this budget. I am looking forward to the budget process, because it offers Senators a unique opportunity to address many of the significant issues affecting this country.
Funding for the amendment, that I will propose to fix bridges through a federal fund, comes from a common sense approach. Out of the billions that are spent overseas for foreign assistance, I am asking for a modest reduction of $15 billion - about %50 of foreign aid - and an additional $1 billion to be taken from the Department of Energy's Loan Guarantee Budget.
So we won't be borrowing any new money, we will be taking it from new places where we are spending it unwisely and putting it into a bridge fund that both Republicans and Democrats can agree to. With your support, we can begin the process of focusing our needs on restoring and rebuilding this great country.
If you support my bridges fund, call your Congressman, call your Senator, let them know you want the federal government to quit spending money overseas and spend some of that money at home fixing our nation's bridges and roads. Thank you.