Week 1 winner was to stop spending federal funds on elections. The bill passed 239-160 10 Democrats voted yea 1 Republican voted nay.
Obtain Refund of Funds Owed to the U.S. by the U.N. Tax Equalization Fund
Approximate $180 million in one time savings
As of December 31, 2009, the United Nations reported that it was holding almost $180 million that the U.S. had overpaid into the U.N.’s Tax Equalization Fund (TEF). It appears that the U.N. is still holding the U.S. funds because the Administration has not instructed the U.N. on how it wishes to dispose of them. By instructing the U.N. to return those funds to the U.S. we can generate savings for American taxpayers. In addition, the Administration should also demand that the process for Tax Equalization Fund withholdings be revised to prevent (or at least reduce) future discrepancies leading to such large surpluses.
Obtain Refund of Unspent Contributions to International Peacekeeping Activities
Approximately $86 million in one-time savings
The United Nations has been holding approximately between $210 and $240 million in cash reserves from closed peacekeeping operations. These funds have been accumulating since the early 1990s. Successive U.N. Secretaries-General have requested authority to maintain these unspent funds in a Peacekeeping Reserve Fund, which allows them to cover shortfalls in peacekeeping and, at times, the general budget. However, U.N. regulations require that unspent funds from liquidated missions be returned to Member States within 12 months (with a potential extension to four years in order to meet receipts submitted by troop contributing countries). The U.S.-share of these unspent funds currently totals approximately $86 million. The U.S. should act to demand the reimbursement of these unspent funds.
Prohibit Economic Assistance to Countries Who Hold More Than $50 Billion in U.S. Debt
Savings of potentially $46 million over ten years
Of America's $14 trillion national debt, approximately $4.3 trillion is held by foreign countries. Over the past year, foreign holding of U.S. debt has increased by over $650 billion. Ironically, we actually provide economic assistance in the form of foreign aid to some of our largest creditors. For example, in 2010 U.S. taxpayers provided approximately $4.7 million in economic assistance for countries, including China, that hold in excess of $50 billion in U.S. government debt (this excludes funds for environmental programs). In short, Congress is borrowing money from foreign countries and turning around using some of that money to provide them with economic grants. This proposal would prohibit any economic foreign aid to a country that holds $50 billion or more in U.S. debt.
Seriously? We borrow money from China to give them aid? Is it me, or is there no logic in this?
As far as the UN goes, this comes as no shock. They have gotten so far away from their original mission that they may as well be disbanded. I would love to see them leave the U.S. We get nothing out of them being here anymore. They vote against us more often than not. The majority of the voting blocks hate Jews. They put human rights abusers on human rights committees. What's not to like?
Yes, this is small potatoes. But we have to start somewhere.
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