YouCut – a first-of-its-kind project - is designed to defeat the permissive culture of runaway spending in Congress. It allows you to vote, both online and on your cell phone, on spending cuts that you want to see the House enact. Each week that the House is in session, we will take the winning item and offer it to the full House for an up-or-down vote, so that you can see where your representative stands on your priorities. Vote on this page today for your priorities and together we can begin to change Washington's culture of spending into a culture of savings.
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Obtain Refund of Funds Owed to the U.S. by the U.N. Tax Equalization Fund
Approximate $180 million in one time savings
As of December 31, 2009, the United Nations reported that it was holding almost $180 million that the U.S. had overpaid into the U.N.’s Tax Equalization Fund (TEF). It appears that the U.N. is still holding the U.S. funds because the Administration has not instructed the U.N. on how it wishes to dispose of them. By instructing the U.N. to return those funds to the U.S. we can generate savings for American taxpayers. In addition, the Administration should also demand that the process for Tax Equalization Fund withholdings be revised to prevent (or at least reduce) future discrepancies leading to such large surpluses.
Approximate $180 million in one time savings
As of December 31, 2009, the United Nations reported that it was holding almost $180 million that the U.S. had overpaid into the U.N.’s Tax Equalization Fund (TEF). It appears that the U.N. is still holding the U.S. funds because the Administration has not instructed the U.N. on how it wishes to dispose of them. By instructing the U.N. to return those funds to the U.S. we can generate savings for American taxpayers. In addition, the Administration should also demand that the process for Tax Equalization Fund withholdings be revised to prevent (or at least reduce) future discrepancies leading to such large surpluses.
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Obtain Refund of Unspent Contributions to International Peacekeeping Activities
Approximately $86 million in one-time savings
The United Nations has been holding approximately between $210 and $240 million in cash reserves from closed peacekeeping operations. These funds have been accumulating since the early 1990s. Successive U.N. Secretaries-General have requested authority to maintain these unspent funds in a Peacekeeping Reserve Fund, which allows them to cover shortfalls in peacekeeping and, at times, the general budget. However, U.N. regulations require that unspent funds from liquidated missions be returned to Member States within 12 months (with a potential extension to four years in order to meet receipts submitted by troop contributing countries). The U.S.-share of these unspent funds currently totals approximately $86 million. The U.S. should act to demand the reimbursement of these unspent funds.
Approximately $86 million in one-time savings
The United Nations has been holding approximately between $210 and $240 million in cash reserves from closed peacekeeping operations. These funds have been accumulating since the early 1990s. Successive U.N. Secretaries-General have requested authority to maintain these unspent funds in a Peacekeeping Reserve Fund, which allows them to cover shortfalls in peacekeeping and, at times, the general budget. However, U.N. regulations require that unspent funds from liquidated missions be returned to Member States within 12 months (with a potential extension to four years in order to meet receipts submitted by troop contributing countries). The U.S.-share of these unspent funds currently totals approximately $86 million. The U.S. should act to demand the reimbursement of these unspent funds.
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Prohibit Economic Assistance to Countries Who Hold More Than $50 Billion in U.S. Debt
Savings of potentially $46 million over ten years
Of America's $14 trillion national debt, approximately $4.3 trillion is held by foreign countries. Over the past year, foreign holding of U.S. debt has increased by over $650 billion. Ironically, we actually provide economic assistance in the form of foreign aid to some of our largest creditors. For example, in 2010 U.S. taxpayers provided approximately $4.7 million in economic assistance for countries, including China, that hold in excess of $50 billion in U.S. government debt (this excludes funds for environmental programs). In short, Congress is borrowing money from foreign countries and turning around using some of that money to provide them with economic grants. This proposal would prohibit any economic foreign aid to a country that holds $50 billion or more in U.S. debt.
Savings of potentially $46 million over ten years
Of America's $14 trillion national debt, approximately $4.3 trillion is held by foreign countries. Over the past year, foreign holding of U.S. debt has increased by over $650 billion. Ironically, we actually provide economic assistance in the form of foreign aid to some of our largest creditors. For example, in 2010 U.S. taxpayers provided approximately $4.7 million in economic assistance for countries, including China, that hold in excess of $50 billion in U.S. government debt (this excludes funds for environmental programs). In short, Congress is borrowing money from foreign countries and turning around using some of that money to provide them with economic grants. This proposal would prohibit any economic foreign aid to a country that holds $50 billion or more in U.S. debt.
Then, Submit Your Ideas for Spending Cuts
YouCut is designed to defeat the permissive culture of spending in Congress. After you vote on this week's choices, we need your help in identifying which program and spending cuts should be featured on this website each week. Click the button below to submit your ideas!
YouCut is designed to defeat the permissive culture of spending in Congress. After you vote on this week's choices, we need your help in identifying which program and spending cuts should be featured on this website each week. Click the button below to submit your ideas!
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