(CNSNews.com) - Rep. Sean Duffy (R-Wis.), who has proposed a bill that would send remaining stimulus funds to the Treasury for deficit reduction, thinks the White House may try to spend as much of the funds as possible in anticipation of his legislation passing.
“It [Recovering Excessive Stimulus Expenditures for Taxpayers or RESET Act] will take all unobligated stimulus money and send it back and it’s anywhere from 5 to 7 to 45 billion dollars. We can’t get a strong number on it but it’s billions of dollars that are going to go back to the Treasury that is not going to be spent,” Duffy told CNSNews.com on Monday at the Capitol.
“What I didn’t want to do was take money that was already in the pipeline that might of, there might be contracts already with that money even though it hasn’t come out of the federal coffers. I want to take a set of dollars that doesn’t have these strings attached to it and send it back right now.”
When asked if he thinks his legislation will make it through the Senate, Duffy said he is going to try to put it into the Continuing Resolution (CR) which will keep the federal government operating before the President’s budget is approved by Congress. Duffy added that the White House might spend as much of the remaining stimulus funds as possible in anticipation of his bill passing in the CR. These funds were originally appropriated in the $787 billion American Recovery and Reinvestment Act, passed by the Democratic-led Congress in February 2009.
Collin Hanna, the President of the conservative non-profit, “Let Freedom Ring” came to Capitol Hill for a press conference to show support for Rep. Duffy’s proposed legislation.
“I think it’s quite possible to cut the stimulus funding and fill the $100 billion gap that the new majority has promised not simply from budget cuts in the current year’s budget but by defunding the stimulus and that’s exactly what Congressman Duffy’s bill does,” he told CNSNews.com