Forgotten Funds Act | Council For Citizens Against Government Waste

Forgotten Funds Act

Letters to Officials

April 11, 2012

U.S. House of Representatives
Washington, D.C. 20515

Dear Representative,

Rep. David Schweikert (R-Ariz.) last month introduced H.R. 962, the Forgotten Funds Act. On behalf of the more than one million members and supporters of the Council for Citizens Against Government Waste (CCAGW), I urge you to support this legislation.

Under current law, hundreds of billions of dollars are sitting untouched in a budget category called “unobligated funds.” Dating back to 1996, an average of $372.3 billion has been left unobligated at the end of each fiscal year (FY). At the end of FY 2011, $703.3 billion was left unobligated. This includes money from several departments, including $25.2 at the Department of Housing and Urban Development, $71.4 billion at the Department of Defense, and $309.1 billion at the Department of the Treasury.

H.R. 962 would rescind any unobligated discretionary appropriations that have gone unspent since the end of FY 2008 or earlier and require that any such funds be used for deficit reduction. At a time when lawmakers on both sides of the aisle are looking for ways to save money, passing the Forgotten Funds Act is a commonsense way to help reduce the nation’s $15.6 trillion debt.

While it is commendable that government officials are leaving some money unspent, these unneeded funds should not be sitting untouched in an arcane account. Instead, these hundreds of billions of dollars should be used to reduce the nation’s $1.3 trillion deficit. I strongly urge you to support the Forgotten Funds Act. All votes on H.R. 962 will be among those considered in CCAGW’s 2012 Congressional Ratings.

Sincerely,

Tom Schatz
President, CCAGW

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