Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of this legislation, H.R. 5730. It rescinds $713.2 million in contract authority for 309 projects from four prior Surface Transportation Authorization Acts. This rescission of contract authority will come from the following authorization bills: $4.5 million for projects designated in the Surface Transportation and Uniform Relocation Assistance Act of 1987; $263.5 million for projects designated in the Intermodal Surface Transportation Efficiency Act of 1991; $441.4 million designated for projects in the Transportation Equity Act for the 21st Century; and $8.1 million authorized by the Safe, Accountable, Flexible, Efficient Transportation Equity Act, SAFETEA. In total, H.R. 5730 rescinds approximately $713 million in contract authority, which is a type of budget authority. However, this bill, like the bill sponsored by Mr. Perriello last week, unfortunately will not have any impact on outlays or direct spending. According to the Congressional Budget Office, the budget deficit is defined as the amount by which the Federal Government's outlays exceed its total revenues. Because H.R. 5730 will not reduce the Federal Government's outlays, this bill, unfortunately, will not reduce the budget deficit. However, I believe it is smart for Congress to look at the projects it has funded in the past and take the projects that are no longer going to move forward off the books.…”