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Reduce Unnecessary Spending Act of 2011: Extension of Remarks

Floor Speech

Date: March 11, 2011
Location: Washington, DC
Issues: Government Budget and Spending

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Mr. VAN HOLLEN. Mr. Speaker, I rise today to introduce the ``Reduce Unnecessary Spending Act of 2011'' on behalf of the President.

There is no question we need to rein in spending and put our nation on the path to long-term fiscal sustainability--and at the same time invest in job growth and ensure that America remains competitive in the 21st century global economy. With that in mind, President Obama put forth a tough love budget that reduces our deficit over 10 years, while also investing in our future.

This legislation will add another tool to make sure the investments we make are targeted and designed to maximize economic growth. The establishment of an expedited rescission process will help keep us on a responsible path and enforce greater fiscal discipline. An expedited rescission process allows the President to sign a spending bill into law, and at the same time propose to Congress that certain items in the bill with a budgetary cost be ``rescinded'' or cancelled. The President sends his recommendations for rescission to Congress within a short time-frame after presentment of the spending bill, and the Congress takes up the proposals on a fast track, acting in a short period after receiving the President's recommendations. The rescissions take effect only if approved by a majority in each house.

Even though the current law already provides Presidential rescission authority, the law does not ensure that the Congress will vote on the President's proposed rescissions. By contrast, the measure President Obama is now proposing, and I am introducing by request, adds new procedures that will virtually guarantee a vote. In addition, this version of the bill ensures that any savings from Congressional passage of a rescission approval bill will be dedicated to deficit reduction.

This proposal is another step forward on the path to greater fiscal responsibility. Other Members of Congress, including Chairman Ryan, have proposed different versions of expedited recession legislation in past years. I hope this year we can work together to find common ground in this area.

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