Bill Would Withdraw $1.5 Billion from a Federal Program that Was Disbanded in 1998 and Transfer These Funds to the Treasury
WASHINGTON – U.S. Senators Maggie Hassan (D-NH) and Joni Ernst (R-IA) introduced a bipartisan bill to address ridiculous waste in the federal government by transferring taxpayer dollars sitting unused in a federal account to the Treasury Department’s general fund. Currently, $1.5 billion in federal funds still sit in the U.S. Enrichment Corporation Fund despite the U.S. Enrichment Corporation being disbanded and turned into a private, non-government entity in 1998.
“It is absurd that $1.5 billion is currently sitting in a federal account for a program that disbanded more than 20 years ago,” said Senator Hassan. “Granite Staters understand better than anyone the importance of fiscal responsibility, and I urge my colleagues to join us in supporting this legislation to return these taxpayer dollars to the Treasury."
“Want to see Washington at its worst? Look no further than the $1.5 billion in taxpayer dollars sitting in an unused federal account for a program that was disbanded over two decades ago. This bipartisan bill is commonsense, and will redirect these dollars towards addressing the federal deficit,” said Senator Ernst.
This bill is part of Senator Hassan’s ongoing efforts to cut waste, fraud, and abuse and save taxpayer dollars. The 2020 funding bill included the Stopping Improper Payments to Deceased People Act, which Senator Hassan cosponsored, to curb federal improper payments to the deceased and save taxpayer dollars. In July, President Biden signed into law a bipartisan bill that the Senator cosponsored to preserve a whistleblower program that provides rewards to individuals who help root out waste, fraud and abuse. Furthermore, in 2019, former President Trump signed into law bipartisan legislation introduced by Senators Hassan and Bill Cassidy (R-LA) to close a loophole in the Medicaid rebate program that results in big pharmaceutical companies overcharging taxpayers. The bipartisan legislation will save taxpayers approximately $3.1 billion over the next 10 years.
To read text of the legislation, click here.