Madam Chair, I have an amendment at the desk. Madam Chairwoman, today, I rise to ask my fellow Members of Congress to take one small step towards fiscal sanity. Chairman Wolf has done very nice work on this bill, but we are all familiar…
Madam Chair, I have an amendment at the desk.
Madam Chairwoman, today, I rise to ask my fellow Members of Congress to take one small step towards fiscal sanity.
Chairman Wolf has done very nice work on this bill, but we are all familiar with agencies that have outlived their usefulness and no longer can withstand budget scrutiny. In these times, if we don't set priorities, nothing is a priority. Here is one opportunity for all of us to make one tiny step towards getting rid of what is now over $17 trillion in debt.
We often talk on our side of the aisle about having a spending problem. Here is a chance for all of us on both sides of the aisle to begin to attack that. We have an opportunity.
Part of the Department of Commerce, the Economic Development Administration, was established in 1965 as an element of President Lyndon Johnson's Great Society. The current administration and, to be frank, many administrations, have used this for their own pork barrel projects and their own cookie jar. The EDA has spent over $3.2 billion in grants and does nothing more than pick amongst winners and losers by region, industry, and community. At its very core, the
EDA is nothing more than the purest of wealth distribution programs.
My amendment would eliminate funding for the EDA, totaling $247 million in fiscal year 2015, and send this money to the deficit reduction account. Based on current levels, eliminating EDA will save over $2.5 billion over the next decade.
Even though I ran two small businesses for 16 years, I had never heard of the Economic Development Administration before coming to Congress. I suspect many of my colleagues are similarly situated.
First, let me describe what the EDA does. It takes dollars from all across the country. That money comes to Washington where the EDA takes 20 percent of it off the top. That is the cost of the administrative burden of running the Economic Development Administration. They then ask companies and communities to apply for ``free money'' from the Federal Government to renovate a movie theater or to build a new industrial park.
While many much these projects aren't necessarily bad, some are just plain ridiculous. These are local projects that either have enough support from their local communities so they could certainly advance without Federal funding or they require Federal money because the local community won't support them. Either way, the Federal Government has no role in being involved.
You might not be familiar with EDA projects, so let me just talk about a couple of them.
In 2008, the Economic Development Administration provided $2 million to begin construction of the UNLV Harry Reid Research and Technology Park in Las Vegas, Nevada. Currently, this technology park features a paved road and a Web site claiming to be the first anticipated tenant moving in in 2010. No construction has even begun.
In 2010, $25 million was spent by the EDA for a Global Climate Mitigation Incentive Fund and $2 million for a ``culinary amphitheater,'' wine-tasting room, and gift shop in Washington State.
The EDA then gave New Mexico $1.5 million to renovate a theater in 2012.
In 2013 it gave Massachusetts $1.4 million to promote video games.
Back in the 1980s, the EDA used taxpayer dollars to build replicas of the Great Wall of China and the Egyptian pyramids in the middle of Indiana. They were never completed. It is now a dumping ground for tires.
After doling out your tax dollars, the Economic Development Administration often, along with a local Congressman or Senator, takes credit for these projects. They go to ribbon cuttings. The EDA is a frequent flyer, traveling all around the country, for just such ceremonies.
I first heard about the EDA in one such project. I was sitting in a committee where the director of the EDA proudly took credit for the jobs created at a $1.6 billion new steel plant. There was a $1.4 million grant, less than one-tenth of 1 percent of the project. My guess is that the company's CFO knew nothing of the EDA grant.
Cutting the EDA, however, is not just a conservative idea, it is a good idea, and one that gets us closer to fiscal sanity here in America.
Madam Chairwoman, my amendment is fairly modest given the amount of debt we are piling onto our children and grandchildren. But this is an important vote to show that Members of this body are serious about limiting the size and scope of our Federal Government.
I urge passage of this amendment, and I yield back the balance of my time.