Bob Kerrey: “Proposal 26: Recapture Federal construction project funds from projects which have not commenced within 24 months of…”

“Proposal 26: Recapture Federal construction project funds from projects which have not commenced within 24 months of appropriations. Any funds appropriated for a Federal construction project that have not been obligated through a binding contract or a general construction contract by 2 years after enactment date of the appropriations, the funds shall revert back to the fund from which the appropriation was made and shall be available for reappropriation. Reason for change: It speeds up spending for Federal construction projects. It provides needed infrastructure to State and local communities quicker. Proposal 27: Reduce the fiscal year 1994 community development block Grant funding to the administration's request level. This proposal would return to CDBG funding to the administration's request level, which is still a 6.8-percent increase over fiscal year 1993. Proposal 29: Reduce Executive Office of the President appropriations by 5 percent.”