Political Quotes

“Mr. President, I am pleased to be a cosponsor of S. 1089, a bill to encourage and support partnerships between the public and private sectors to improve our Nation's social programs, and for other purposes, known as the Social Impact Partnership Act, SIPA. This legislation would facilitate the creation of public-private partnerships that have the goal of improving the outcomes from our Nation's social services spending in order to benefit both the people intended to be helped by those programs and the U.S. taxpayer. It would do so by creating the Federal Interagency Council on Social Impact Partnerships, which would recommend to the Treasury Secretary that the Federal Government enter into agreements with State and local governments and private investors to pay for successful social improvement programs funded by private investors out of savings those programs create for the Federal Government. The bill appropriates $300 million for this purpose and aims to ensure that the savings to the Federal Government from the projects selected will exceed that $300 million. If a social services program is not successful, the Federal Government will not pay for it. In this way, SIPA helps to reorient Federal social spending towards measurable improvements in the lives of those served. While I am supportive of the bill, I do want to note for the record that this bill could benefit from further assurances at a committee markup that the funded projects will result in governmental savings.…”