Published: 01-08-09
Introduces Spending Reform Act to get America’s financial house in order
Washington D.C. – With the announcement of a staggering $1.2 trillion federal deficit for 2009 and President-elect Obama predicting trillion dollar deficits “for years to come” U.S. Congressman Kevin Brady (R-Texas) today introduced legislation to rein in out-of-control federal spending and force both parties to work together to put America back on sound financial footing.
“How horrible do our government’s finances have to get before we act?” asked Brady. “We are at a crisis point and Congress just continues to spend like there’s no tomorrow. Unless we act now to get our financial house in order families will face higher tax burdens and our grandchildren will find themselves in a deep hole they can never climb out of.”
The Spending Reform Act of 2009 is a starting point for the new president and both parties to work together to cut wasteful spending begin balancing the federal budget and address the looming crises in Medicare and Social Security.
The legislation includes:
- Annual Spending Cap on the federal budget adjusted to inflation;
- Federal Sunset Law to abolish obsolete federal agencies and eliminate duplication;
- SAFE Commission: a plan by Rep. Frank Wolf (R-VA) to force both parties in Congress to find long-term solutions to the financial collapses facing Social Security and Medicare;
- A moratorium on congressional earmarks until they can be reformed and the abuses stopped as proposed by Rep. Jack Kingston. (R-GA).
Brady a senior member of House Ways & Means Committee who was recently appointed to the House Select Committee on Earmark Reform has been at the forefront of spending reform efforts on Capitol Hill.
