Grace Napolitano: “We can go on debating the issue, but everybody who takes a loan has to pay interest, and I don't see any reason why…”

“We can go on debating the issue, but everybody who takes a loan has to pay interest, and I don't see any reason why since 1902 our irrigators have been singled out for not having to pay that while the power marketing agencies and other water agencies do have to ante up that interest. They do pass it on to the consumer, but the consumer understands why. We need to be transparent on the issue and be able to let people know really what we are paying for. Yes, we have the lowest priced crops in California, but we must be able to ensure that we let the rest of the Nation know why we need to move forward. The Central Valley Project, the CVP, was $1.78 billion. Only $236 million has been repaid, and $1.45 billion has not been repaid. Mr. Chairman, I think this is an amendment that is in order so as to begin trying to help balance our budget. We hope that we will get our colleagues to understand that all of us have to hurt a little bit, and I don't see why this does not have the merit that it should, so I urge a ``yes'' vote. I yield back the balance of my time. Mr. McCLINTOCK. Mr. Chairman, it ought to be obvious to everyone that, once you have paid off a loan, you don't keep paying interest on that loan. Why? Because you have already paid it off. That is what every project managed by the Bureau of Reclamation does.…”