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RSC Introduces the Reducing Barack Obama’s Unsustainable Deficit Act
Bill Repeals Stimulus Spending and Reclaims TARP Funds for Taxpayers

 

Washington, Jul 9 - Republican Study Committee Chairman Tom Price (R-GA) issued the following statement after he, along with RSC Budget and Spending Taskforce Chairman Jim Jordan (R-OH) and RSC Financial Services Working Group Chairman Scott Garrett (R-NJ), introduced the Reducing Barack Obama’s Unsustainable Deficit Act. The RSC legislation repeals the unspent portion of the stimulus package, saving taxpayers approximately $460 billion. The bill also eliminates the President’s $700 billion slush fund by reclaiming all unobligated TARP money, currently around $150 billion, and requiring all future repayments of TARP funds to go exclusively toward debt reduction.