Political Quotes

“first, let me say that I agree with my friend from Wyoming that we must not allow bills to move forward that are not fully paid for, but this is not the case for the substitute. What we are talking about right now is the Inhofe-Boxer substitute, which would become S. 2848. But let me be clear. The substitute, S. 2848, does not add to the debt or the deficit, which CBO has verified. The issue with this point of order involves a disagreement between the Senate Budget Committee rules and the CBO as it relates to the ATVM spending offset used. While CBO gives us credit for rescinding it, the Budget Committee does not. The fact is that when we reported this bill out of committee in April, CBO verified that the rescission of spending authority for the Advanced Technology Vehicles Manufacturing Program generates $300 million in real savings to the U.S. Treasury. In this substitute, we are taking those funds from a program that many believe is wasteful and unnecessary and we redirect the funds toward a crisis across the Nation that involves failing and outdated critical infrastructure, which we address in this bill. Another issue is that the Budget Committee is concerned that the substitute is not budget neutral over 5 years based on how ATVM loan authority is rescinded. However, over a 10-year budget window, CBO says we actually reduce the deficit.…”