H*3692 Session 111 (1995-1996)
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.
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