[Congressional Record Volume 142, Number 51 (Friday, April 19, 1996)]
[Extensions of Remarks]
[Page E584]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         TRUTH IN BUDGETING ACT

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                               speech of

                        HON. PETER G. TORKILDSEN

                            of massachusetts

                    in the house of representatives

                       Wednesday, April 17, 1996

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (H.R. 842) to 
     provide off-budget treatment for the Highway Trust Fund, the 
     Airport and Airway Trust Fund, the Inland Waterways Trust 
     Fund, and the Harbor Maintenance Trust Fund:

  Mr. TORKILDSEN. Mr. Chairman, I rise in opposition to H.R. 842, a 
bill to move transportation trust funds off budget. This change would 
increase the deficit and stymie future efforts to balance the budget.
  This bill is the equivalent of telling someone to learn how to swim 
while they're drowning. Moving the trust funds off budget will make 
sense when Congress has its fiscal house in order, but it should not be 
implemented when the Federal Government is drowning in a sea of red 
ink.
  Furthermore, the Congressional Budget Office estimates that exempting 
the transportation trust funds from spending cuts could increase the 
deficit by over $20 billion over 5 years.
  Our goal of balancing the budget must come before attempts to 
restructure the budget. I am not opposed to moving trust funds off 
budget, in principle, but we must balance the budget first.
  Mr. Chairman, I urge my colleagues to defeat this bill and ensure 
that our efforts to balance the budget stay on course.

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