Kind Calls for Managing Federal Assets to Raise Revenue
Washington, DC – U.S. Rep. Ron Kind (D-WI) today continued his fight to reduce the deficit by releasing a report from the Congressional Budget Office (CBO) on federal assets that could be sold, leased, licensed, or otherwise conveyed to raise revenue. Congressman Kind has long highlighted the need to tackle growing entitlement programs, reduce agricultural subsidies to wealthy farmers, and end wasteful government spending.
Rep. Kind requested the CBO report specifically to get a better sense of what the government owns and how Congress could use those resources to raise revenue and therefore reduce the deficit. In its response, CBO estimated that, depending on the legislation, the total net receipts could reach $20 billion.
“President Obama said that his staff would go through the federal budget line-by-line to end wasteful spending. While we have to be careful to make sure that we’re spending money efficiently, we also need to take a long look at what our options are for raising revenue,” Rep. Kind said. “I may not support everything outlined in CBO’s letter, but they deserve to be considered as a way to begin addressing the serious budget deficit that we face.”
Earlier this year, President Obama invited Rep. Kind to participate in the White House Fiscal Responsibility Summit to discuss ways to help improve the long-term sustainability of the federal budget.
A copy of the CBO letter accompanies this release.