Issue Position: Fiscal Responsibility
Issue Position
Issue Position: Fiscal Responsibility
In Jeanne Shaheen's six years as Governor of New Hampshire, she balanced the state's budget every term. In Washington, she's found that fiscal restraint can be hard to find. The result is mounting national debt and skyrocketing budget deficits that threaten our future.
Congress needs to do a better job taking care of the taxpayers' money. That means restraining spending and eliminating fraud and abuse in government programs. Only by making the tough cuts in spending and cracking down on waste can we begin the hard work of balancing our budget and reducing our debt.
Here's how Senator Shaheen is working to protect taxpayer dollars:
Opposing Bank Bailouts
Senator Shaheen voted against the emergency economic assistance program known as TARP -- the Troubled Asset Relief Program -- because she didn't believe that it included enough protections for taxpayers. In the months since, news reports of executive bonuses and lavish spending have reinforced those concerns.
Fighting Fraud and Abuse
Senator Shaheen was an original co-sponsor of a new law that provides the Special Inspector General for TARP with greater law enforcement authority to investigate cases of fraud and abuse in the TARP program. The Special Inspector General ensures greater transparency, enhanced oversight, and robust enforcement of taxpayer dollars expended through the TARP program.
Cutting Waste in Medicare
Senators Shaheen and Collins (R-ME) introduced the Medicare Transitional Care Act to reduce costly hospital readmissions by as much as $5,000 per Medicare patient. The proposal was adopted as part of the Senate Finance Committee's health care reform bill as a three-year Medicare pilot program to integrate transitional care services at eligible hospitals. This would help ensure that appropriate follow-up care is provided for seniors who are discharged from a hospital and would prevent unnecessary and costly re-hospitalization.
Prosecuting Mortgage Fraud
Protecting taxpayer money from fraud and waste and punishing those whose illegal activities created our economic crisis, are key components to economic recovery. That's why Senator Shaheen sponsored and passed legislation to crackdown on fraudulent mortgage lenders. Her amendment strengthened the Department of Housing and Urban Development's (HUD) Inspector General to investigate and remove fraudulent mortgage lenders from federal housing programs.
Cracking Down on Offshore Tax Cheats
Offshore tax abuses cost the U.S. Treasury an estimated $100 billion each year in lost tax revenues. Senator Shaheen was proud to cosponsor a bill that would crack down on offshore tax havens and abusive tax shelters that corporations use to avoid paying their fair share of taxes.
Opposing Wasteful Spending
When Senator Judd Gregg offered an amendment to stop funding wasteful road signs that trumpet projects funded by the economic recovery package, Senator Shaheen was one of only six Democrats to cross the aisle and support his amendment.
Supporting Balanced Budgets
Senator Shaheen is proud to have helped champion legislation that enacted strong pay-as-you-go-rules into law. This law requires Congress to offset any new federal spending by finding a way to pay for it. A similar rule played a significant role in fighting deficits during the 1990s, but was repealed in 2002. While a comprehensive plan is needed to address our mounting national debt, this rule is an important step in the right direction.
Reforming Foreign Aid
Foreign assistance can be a valuable tool for protecting and promoting U.S. interests around the world, but it must be done in a cost-effective, transparent, and coordinated manner to ensure taxpayer dollars are not wasted. Senator Shaheen is a cosponsor of the "Foreign Assistance Revitalization and Accountability Act of 2009," a bill which attempts to improve the effectiveness, transparency, and efficiency of our U.S. foreign assistance programs. As a member of the Senate Foreign Relations Committee, foreign assistance reform and accountability is a high priority for her.
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