Politics

Marco Rubio Offers Proposal to Pay Down National Debt

Florida Republican senator says Rick Scott rejecting high-speed rail monies inspired the bill

By: Kevin Derby | Posted: May 17, 2011 11:15 AM

Around the State

U.S. Sen. Marco Rubio

Florida Republican Sen. Marco Rubio introduced a proposal Tuesday that would allow states refusing federal funds to direct those monies to help pay down the national debt.

Rubio admitted he was inspired by Gov. Rick Scott, who earlier this year turned down federal funds directed toward building a high-speed rail linking Orlando and Tampa.

Rubio dubbed the bill, which is being sponsored in the U.S. House of Representatives by U.S. Rep. Denny Rehberg, R-Mont., the Returned Exclusively For Unpaid National Debt (REFUND) Act.

Rubio’s and Rehberg’s proposal would allow state legislatures to vote to refuse the federal monies directed toward various projects and reallocate them toward lowering the national debt. The proposal would also require the U.S. Treasury Department to send an annual report to Congress detailing how the monies were allocated to lower the debt. With Democrats in control of the Senate, it has very little chance of passing in the immediate future.

“The REFUND Act ends the ‘use-it-or-lose-it’ mentality that encourages states to take debt-financed cash from Washington that will be a crushing burden on our children and grandchildren,” said Rubio. “Fiscally responsible state officials should be allowed to divert Washington's spending spree toward debt reduction and do their part to end the practice of spending money we don't have.

“It takes a great deal of courage for state officials to take the long view and reject debt-financed federal funds, but this legislation will encourage them to make decisions with their state’s and nation’s best interests at heart and without worrying that the money will be spent elsewhere if they don’t,” continued Rubio. “For our children’s and grandchildren’s sake, Washington’s dysfunctional culture of borrowing and misspending has to end, and this is one way states can join the fight for this national cause.”

“In just three pages, the REFUND Act restores a big piece of fiscal sanity to Washington, D.C.,” insisted Rehberg, who is running for the U.S. Senate in 2012. “It’s really very simple. If a responsible state tightens its belt to save tax dollars, we shouldn’t be rewarding irresponsible states by adding those savings to their take. We’ve got to put an end to the Washington system that subjects state lawmakers to partisan attacks for having the audacity to save the taxpayer money. Instead of the wasteful ‘use-it-or-lose-it’ approach to federal spending, the REFUND Act creates an efficient system that operates on the principle of ‘a dollar saved is a dollar earned.’”

The proposal has won the backing of fiscal conservative groups including Citizens Against Government Waste (CAGW) and the National Taxpayers Union (NTU).

Tags: Congress, Denny Rehberg, High-Speed Rail, Marco Rubio, National Debt, News, REFUND Act, Rick Scott, U.S. Senate, Politics

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Brenda Manis

7:34AM MAY 27TH 2011

I knew I voted for a smart Senator in voting for Rubio. Everyone should watch the bill "Refund Act" and every senator or congressman who does not vote for this bill, should be seriously considered for non-re-election. I like this bill. Common Sense.

Tragic_consequences

4:46PM MAY 17TH 2011

I don't think we have to worry about Obama sending any more money to Florida.

Nancy S

9:19AM MAY 18TH 2011

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Linda

8:53AM MAY 18TH 2011

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