Rep. Bill Owens Introduces Bipartisan "Spending Reduction Act"

Statement

This week, Congressman Bill Owens introduced legislation, the "Spending Reduction Act," (H.R. 2250) in support of federal spending cuts outlined in a series of reports by the General Accountability Office (GAO). Specifically, the Congressman's legislation would require executive agencies to put into place the efficiencies identified by the GAO after reporting to Congress and the President on how they would enact the recommendations. Congressman Owens issued the following statement on the bill:

"The GAO identified $100 billion or more in savings the federal government can achieve without reducing services or endangering federal programs, but now we must fully implement these cuts," said Owens. "As sequestration takes its toll across the country and deficits remain at dangerous levels, we cannot wait any longer to responsibly address America's spending crisis. Wherever there are reasonable, common-sense options to reduce federal spending, it is incumbent upon Congress and the Administration to take action."

In addition to requiring implementation of the GAO's report, the "Spending Reduction Act" would provide a road map to achieve savings outlined by the GAO. The bill requires agency heads to issue a report to Congress and the President with their assessment of the GAO's findings and the status of that agency's efforts to implement the cuts. This assessment would include estimated costs and savings of implementation, an outline of any legislation necessary to carry out these findings and an evaluation from the Inspector General's office on whether the agency's opinion is consistent with GAO's findings.

"By holding agencies accountable for the GAO's findings, we can ensure the reports aren't being ignored and every opportunity to save taxpayer funds is given full consideration," Owens said.

On March 1, 2011, the GAO released its first report identifying 81 opportunities to reduce potential duplication and save tax dollars. Although GAO did not put a total price tag on the savings it identified in the report, it has been estimated that at least $100 billion in savings might be realized, according to the New York This week, Congressman Bill Owens introduced legislation, the "Spending Reduction Act," (H.R. 2250) in support of federal spending cuts outlined in a series of reports by the General Accountability Office (GAO). Specifically, the Congressman's legislation would require executive agencies to put into place the efficiencies identified by the GAO after reporting to Congress and the President on how they would enact the recommendations. Congressman Owens issued the following statement on the bill:

"The GAO identified $100 billion or more in savings the federal government can achieve without reducing services or endangering federal programs, but now we must fully implement these cuts," said Owens. "As sequestration takes its toll across the country and deficits remain at dangerous levels, we cannot wait any longer to responsibly address America's spending crisis. Wherever there are reasonable, common-sense options to reduce federal spending, it is incumbent upon Congress and the Administration to take action."

In addition to requiring implementation of the GAO's report, the "Spending Reduction Act" would provide a road map to achieve savings outlined by the GAO. The bill requires agency heads to issue a report to Congress and the President with their assessment of the GAO's findings and the status of that agency's efforts to implement the cuts. This assessment would include estimated costs and savings of implementation, an outline of any legislation necessary to carry out these findings and an evaluation from the Inspector General's office on whether the agency's opinion is consistent with GAO's findings.
Times. Congressman Owens wrote to President Barack Obama shortly thereafter to call his attention to the findings, and last year Rep. Owens renewed his call to see the GAO's findings implemented. The GAO identified additional savings in two subsequent reports since 2011.

Rep. Owens' legislation is supported by co-sponsors from both parties.

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