Washington, D.C. – Majority Leader Eric Cantor (R-VA) today delivered the following floor statement prior to the House’s vote on this week's winning YouCut, which eliminates the Presidential Election Fund, saving taxpayers $617 million over ten years according to the CBO estimate. The House approved the proposal 239 to 160:
Mr. Speaker, over the past two years, the legislative schedule of this House was dominated by spending money, not cutting spending.
But after the people voiced their displeasure in November, the discussion in this town is now focused on rolling back the unchecked growth of government and federal expenditures.
Our Majority is dedicated to cut and grow. Cutting spending and job-destroying regulations. Growing private-sector jobs and the economy.
Yesterday, we directed the Budget Committee Chairman to set spending levels so we return non-defense discretionary spending to 2008 levels or below.
Today, the American public, through the YouCut program, has put on the chopping block an example of unnecessary government waste.
Specifically, this bill would eliminate the Presidential Election Campaign Fund, an outdated mechanism that provides federal tax dollars to candidates in presidential primaries in the form of matching funds and general elections and subsidies for the Democrat and Republican National Conventions.
Eliminating this program would save taxpayers $617 million over ten years, and would require candidates and political parties to rely on private contributions rather than tax dollars.
In times when government has no choice but to do more with less, voting to end the Presidential Election Campaign Fund should be a no brainer. I urge my colleagues to vote in favor of the bill.
View Leader Cantor's Remarks HERE.