U.S. Senator Russ Feingold (D-WI) is rolling out a major initiative aimed at cutting government waste.
The legislation proposes over 40 reforms and cuts to spending by the federal government, which Senator Feingold says would help save American taxpayers nearly half trillion dollars over the next decade.
Feingold says the plan would accomplish that goal in a variety of ways, such as stopping earmark abuse, giving the president a line-item veto, and ending automatic pay raises for members of Congress.
Feingold says it would also cut several wasteful programs that are funded by taxpayers and return that money to the treasury. Some of the examples he cites include $244 billion in leftover TARP funding, $4 billion by cancelling the C-17 aircraft program, and savings of $30 million by ending radio and TV broadcasts directed towards Cuba.
The Wisconsin Democrat admits the proposal may be a little ambitious, since many of the programs are firmly entrenched in the system. However, he’s also vowing to continue looking for other wasteful spending programs which he plans to add to the package.
Feingold says lawmakers need to get serious about controlling spending now.
AUDIO: Andrew Beckett reports (MP3 :58)
