H*3692 Resolution, By Kelley

Similar(S 590)
 A House Resolution Memorializing the Congress of the United States to adopt H.
 R. 842, the "Truth in Budgeting Act".

   02/28/95  House  Introduced HJ-4
   02/28/95  House  Referred to Committee on Invitations and Memorial
                     Resolutions HJ-4
   03/02/95  House  Committee report: Favorable Invitations and
                     Memorial Resolutions HJ-3
   03/02/95  House  Adopted HJ-4

A HOUSE RESOLUTION

MEMORIALIZING THE CONGRESS OF THE UNITED STATES TO ADOPT H. R. 842, THE "TRUTH IN BUDGETING ACT".

Whereas, the Highway Trust Fund, the Aviation Trust Fund, the Inland Waterways Trust Fund, and the Harbor Maintenance Trust Fund are wholly user-financed and do not contribute to the federal deficit; and

Whereas, a $33 billion cash balance ($18.5 billion unobligated balance) is languishing in these trust fund accounts as an accounting measure designed to mask the actual size of the federal deficit and federal spending in other areas; and

Whereas, each time a motorist purchases gasoline or a traveler buys an airline ticket, user fees are paid into the Highway and Aviation Trust Funds; and

Whereas, Congress imposed these fees with the assurance to the American public that they would be spent on infrastructure improvements; and

Whereas, investment in infrastructure helps productivity, creates jobs, and is essential for economic growth, and infrastructure spending is one area that has widespread public support and actually provides a return on taxpayer investment; and

Whereas, by combining these trust funds with the federal General Fund Budget, these trust fund balances have accrued at the expense of billions of dollars in productivity and safety; and

Whereas, H. R. 842, the "Truth in Budgeting Act", removes the Highway Trust Fund, Aviation Trust Fund, the Inland Waterways Trust Fund, and the Harbor Maintenance Trust Fund from the General Fund Budget, restores integrity to the trust funds which are user-financed, self-supporting, and directed at specific needs, and restores integrity to the General Fund Budget whose real deficits are currently masked by these trust funds.. Now, therefore,

Be it resolved by the House of Representatives:

That the members of the General Assembly memorialize the Congress of the United States to adopt H. R. 842, the "Truth in Budgeting Act".

Be it further resolved that a copy of this resolution be forwarded to the President of the United States Senate; the Speaker of the United States House of Representatives; and each member of the South Carolina Congressional Delegation in Washington, D.C.