The American Recovery and Reinvestment Rescission Act was introduced by House Republicans to return $12 billion in unspent American Recovery and Reinvestment Act funds, aka stimulus funds, targeting the nation's largest public works project, CA HSR.
Mike Rosenberg at the San Jose Mercury News writes that GOP leaders have moved quickly to create a bill to recall the high-speed rail funding that has yet to be spent:
"The bill is sponsored by Congressman Jerry Lewis - Redlands, CA, ranking member of the powerful appropriations committee, to reduce the federal deficit, or so he states: "This represents a first down-payment in GOP efforts to eliminate wasteful government spending and reduce the deficit."
The rescission bill, if it passes the House, would have to also pass the U.S. Senate and the President's veto pen.
Contributor's note: While the HSRA has received almost $3 billion from the Fed. government, only the first allocation in Jan, 2010 was from ARRA. The Oct. 28 allocation of $715 million was a federal appropriation.
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Read the full story: GOP House aims to take $2 billion back from California high-speed rail
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