After enacting historic spending measures aimed at averting financial collapse — a bank bailout, economic stimulus — Congress and the White House are now extremely sensitive to a yawning federal deficit. The administration recently called for a 5 percent reduction from every non-security governmental agency. Numerous bills have been stuck because they would add to the $1.3 trillion deficit projected for FY2010. House Minority Whip Eric Cantor (R-Va.) has even started the You Cut program, “designed to defeat the permissive culture of runaway spending in Congress,” where the public can vote on spending cuts that you want to see the House enact.
Well, Rep. Cantor, Mr. President, here are some other suggestions:
Billions of taxpayer dollars could be saved with cuts to programs for environmentally harmful fuels including coal, oil and gas, and nuclear power. The nuclear industry is one of the largest recipients of federal subsidies through production tax credits, federal loan guarantees, accident indemnification, and research and development money because building a new nuclear reactor is too risky and expensive for private investors. The oil-and-gas industry has received a suite of subsidies since the early 1900s, including generous tax credits to royalty relief and liability coverage. Then there are a host of national, international and regional development banks that invest federal dollars in more fossil fuels projects around the world — benefiting some of the dirtiest and most profitable corporations.
Our outdated and ineffective farm policies waste billions of federal funds each year, jeopardize fragile lands and waters and no longer reflect the realities of 21st-century agriculture. Essentially unchanged since being established 80 years ago as temporary assistance measures during the Great Depression, current farm policies no longer reflect the needs of the majority of America’s farmers, rural communities, consumers or taxpayers and do little to protect our environment.
For nearly two centuries, the Army Corps of Engineers (Corps) has been a way for lawmakers to bring projects to their home districts. In many cases these projects are not economically justified and are based more on political power than national interest. Over the last several years, Corps projects have been challenged by the National Academy of Sciences, Government Accountability Office and even the U.S. Army inspector general.
We can cut the deficit and improve the environment at the same time. Here’s how.
Ryan Alexander is president of Taxpayers for Common Sense.