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.
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