On the recordJune 17, 2010
As Members of Congress, our constitutional mandate is to be responsible stewards of the taxpayer dollars and assets. With the debt at $13 trillion and counting, this House and government have failed miserably in the task. During times of fiscal uncertainty, savvy businesses identify excess and underperforming assets and eliminate them. Our government must do the same. The American people agree. This week's winning YouCut proposal would incentivize Federal agencies to identify and eliminate underutilized Federal buildings and structures. According to OMB Director Peter Orszag, the Federal Government has 69,000 buildings and structures that meet this criteria. The total value of this excess property is nearly $19 billion. The one- time sale of these properties would generate substantial revenues to fill short-term budget gaps. The long-term savings would have a more substantial impact. A leaner real estate portfolio would allow the Federal bureaucracy to function effectively and efficiently, and most importantly, the taxpayers will no longer be on the hook for underused, sometimes vacant Federal properties. Current law prohibits the disposing of wasted property and cashing in on the savings. Most surplus property must be offered--often at no cost--to other government agencies, to State and local governments, to nonprofit organizations and others. Only at the end of this process is property offered at a competitive public sale.…





