Mr. President, I rise in support of my resolution that would overturn a rule from the Department of the Treasury that affects the Coronavirus State and Local Fiscal Recovery Fund. Treasury's attempted sleight of hand to keep the COVID…
Mr. President, I rise in support of my resolution that would overturn a rule from the Department of the Treasury that affects the Coronavirus State and Local Fiscal Recovery Fund.
Treasury's attempted sleight of hand to keep the COVID spending spigot on is an insult to Congress and those who believe in our Constitution as well as a complete misuse of taxpayer dollars.
As we vote today, we as a body must ask ourselves a couple of simple questions:
First, are we going to allow funds meant for COVID recovery to be spent after the so-called ``emergency'' ended or are we finally able to install fiscal responsibility as our national debt spirals further out of control?
Second, are we willing to defend the article I branch from an overreaching Agency of bureaucrats who want to claim more and more power for themselves?
The spending in this program--which is hardly the point right now, actually, with this extension of the time, but it is worth noting--has been wasteful on many occasions.
When Congress provided $350 billion for the Coronavirus State and Local Fiscal Recovery Fund, I don't think one could have imagined that the fund would have been used for golf courses and swimming pools and tennis courts--maybe to some. It also became a slush fund to incentivize illegal immigration, $340 million for cash payments to illegal immigrants in Washington State, $3.6 million in Illinois to help illegal immigrants apply for citizenship, and $2 million in DC to help turn the District of Columbia into a ``proud sanctuary city.''
Regardless of whether you supported the spending or not, this fund had a specific purpose. This fund was designated to aid State governments and local governments with revenue shortfalls tied to the COVID-19 pandemic.
When Congress created this fund, Congress provided a clear restriction. In statute, Congress required that all costs incurred with money from this fund must be incurred by December 31, 2024. That is the statute. That is congressional language.
In short, recipients had over 3 years to obligate this funding or the funding would be returned to the Federal Treasury. Most States and localities understood the requirements.
As of March of 2023--over a year ago--all States had obligated at least 60 percent of their funding while localities had obligated over 54 percent. Yet, lo and behold, while most people in this body were celebrating Thanksgiving with our families, the Treasury Department tried to pull a fast one on the American people. The Treasury Department decided it knew better than this body and better than Congress, and the Department rewrote the law to fit its own needs and special interests.
Even though the statute said all costs must be incurred by the end of this calendar year, the Treasury Department decided that States could still use these COVID recovery dollars way past 2024.
This is infuriating on a bunch of different levels. First, the administration ended the public health emergency for the pandemic on May 11, 2023.
Now, most Americans had moved on well beyond that, but even this administration acknowledged over a year ago that it was over.
It is also crazy because even though this administration said COVID ended about a year ago, bureaucrats at the Treasury Department decided we should just keep spending money anyway--spending billions into 2025 and 2026--to recover from COVID. Just think about that for a second.
But beyond this, beyond there being no rational reason to continue the spending for COVID recovery, this rule does not even keep the spigot on in order to directly benefit our constituents. This is bureaucrats giving a helping hand and a paycheck to--you guessed it-- other bureaucrats.
Earlier this week, Secretary Yellen attempted to assert that if this rule is overturned--and I heard this from my colleague--then infrastructure projects would grind to a halt. That is false. That is not true. This administration, once again, is using fearmongering as a reckless tactic for a radical agenda.
Let's be honest with the American people and look at the text of this rule. Under this new Treasury rule, the funding is limited to administrative and legal costs, such as compliance costs and internal control requirements. This rule ensures that funding does not go to bridges or broadband but to bureaucrats.
And this rule has real cost. This rule, if it continues, will cost taxpayers at least $13 billion, if not more. That boils down to about $1,200 for each and every American family. And around here, as I have learned, $13 billion doesn't seem like a lot of money to people. But we are $34 trillion in debt. We are spending nearly the same amount on interest payments on that debt as we do our national defense.
This fiscal recklessness is unsustainable. The actions like this from the Treasury rule are a prime reason why we are $34 trillion in debt. Our constituents demand that we actually hold the line, that we stop spending beyond our means, especially when the
rules encourage spending that is wasteful.
I ask my colleagues to join me today in supporting this resolution. COVID is over. Our national debt is out of control. Inflation is sky- high. It is time to reinstate fiscal responsibility here in the U.S. Senate.
I yield the floor, Mr. President, and I ask for the yeas and nays.
Mr. President, just to respond briefly, it may not have been his priority list, but it is worth pointing out that, again, some priorities of these dollars--like $340 million cash payments to illegal immigrants--have been spent from this fund. But be that as it may, if the concern from my colleague is that these projects for lead pipe replacement and schools--if they have been obligated, nothing is going to change with that. I want to make that very clear. In fact, those obligations are still extended through 2024, as the statute called for.
What this is all about is one simple fact: Do we think that Treasury can rewrite the law to extend these bureaucratic payments that, by the way, are part of the submissions that these State and locals have made for legal fees, other compliance costs. That is all in these submissions. This is to get overtime for 2 more years to spend approximately $13 billion. And again, that is $1,200 out of the budgets of American families across this country.
So we have an opportunity to restore some fiscal sanity, to stand up for the Article I branch. Whether you agree with that law or not, it said those obligations had to be incurred before the end of 2024. We are not changing that. We are just saying Treasury doesn't get to do an end run around Congress and again have $13 billion more go out the door to lawyers and to bureaucrats.
With that, I yield the floor and ask for the yeas and nays.
Mr. President, I ask unanimous consent that the scheduled rollcall vote take place immediately.