The proposal does what Republicans have been talking about for two years -- "repeal" of remaining stimulus funds (now $45 billion), privatizing Fannie and Freddie ($30 billion), repealing Medicaid' FMAP increase ($16.1 billion), and what they estimate at $330 billion in discretionary spending cuts. Highlights of these projected annual savings:
- Cutting the federal workforce by 15 percent through attrition, and do this by allowing only one new federal worker for every two who quit.
- Killing the "fund for Obamacare administrative costs" for $900 million
- Ending Amtrak subsidies for $1.565 billion
- Ending intercity and high speed rail grants for $2.5 billion
- Repealing Davis-Bacon for $1 billion
- Cutting annual general assistance to the District of Columbia by $210 million, and cutting the subsidy for DC's transit authority by $150 million.
Reforms that go after their own perks:
- Cutting the Federal Travel Budget in half, for $7.5 billion
- Cutting the Federal Vehicle Budget by 1/5, for $600 million
- Halve funding for congressional printing - $47 million annual savings
- Ending the death gratuity for members of Congress
And cuts that get revenge for Juan Williams: $445 million from the Corporation for Public Broadcasting, $167.5 million from the NEA, and $167.5 million from the NEH.
For a copy of the Spending Reduction Act, click here.
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