Charles W. Stenholm: “I, like the previous speaker, rise in strong opposition to the rule on the Conservation and Reinvestment Act of 1999…”

“I, like the previous speaker, rise in strong opposition to the rule on the Conservation and Reinvestment Act of 1999 because it allows the continuation of the pattern of fiscally irresponsible legislation that will squander our opportunity to retire the national debt and deal with social security and Medicare. The legislation that this rule will allow is the latest in the series of bills that will drain the projected budget surplus drip by drip without regard for the consequences. In setting national priorities, Congress has the responsibility to carefully assess each program. Creating a new Conservation and Reinvestment Act fund with a mandatory spending stream will exempt these funds from the scrutiny that all other programs must endure. This would further erode the integrity of the budget as a tool for fiscal accountability and constrain the options of future policymakers by locking in an ever-increasing share of Federal spending. According to the Congressional Budget Office, H.R. 701 would increase mandatory spending by $7.8 billion over the next 5 years without offsets, as required by budget rules.”