There is a strong bipartisan agreement that the long-term health of our economy necessitates confronting persistent budget deficits and the growing national debt. Democrats and Republicans were able to work together to create balanced budgets in the 1990s and a similar attempt is needed now. While I appreciate the efforts of the Republican leadership to put forward a specific budget cut, I have serious concerns with eliminating the public campaign financing system. However, if the House is going to vote on this, we owe it to the American people to ensure that the funds are actually used for deficit reduction and not for additional spending. This is why I am putting forward my amendment that will ensure that the $194 million in tax dollars currently sitting in the Presidential Election Campaign Fund will be used to reduce the deficit should this legislation become law. My amendment would simply specify that upon transfer to the Treasury, these funds are to be used only, to be used only, for reducing the deficit. This is about sending a message to taxpayers.
Editor's note · Context
The speaker addresses the need for budget deficit reduction and proposes an amendment regarding campaign funds.
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