Washington, D.C. — Senator Ted Budd (R-NC) has co-sponsored the Zero Based Budgeting Act. The bill would require federal agencies to provide a zero based budget every 6 years.
The legislation was originally introduced by Senator Jim Risch (R-ID).
Read the full text of the bill HERE.
Sen. Budd said in a statement:
“Our country’s fiscal situation is unsustainable and unacceptable. Forcing the federal bureaucracy to take a fresh look at their budgets on a regular basis will help reduce waste and redundancy throughout the government and ultimately save taxpayer dollars and reduce the national debt. Big thanks to Senator Risch for leading this critical proposal.”
The Zero Based Budget Act would:
- Require federal agencies to provide a zero based budget every 6 years.
- Reduce spending levels by 2 percent.
- Remove the assumption that current activities and funding are automatically continued.
- For national security purposes, exempts the Department of Defense and the National Nuclear Security Administration from these requirements.