Senators Hassan, Paul Introduce Bipartisan Bill to Cut Government Waste and Save Taxpayer Dollars

Legislation Includes Common-Sense Reforms to Student Loans, Tax Returns

WASHINGTON – Senators Maggie Hassan (D-NH) and Rand Paul (R-KY) introduced legislation that would require government agencies to implement changes recommended by the Government Accountability Office (GAO) to save taxpayer dollars and improve government efficiency.

“I’m glad to work across the aisle to implement common-sense reforms to eliminate government waste,” Senator Hassan said. “From addressing student loan debt default rates to changing the metal composition of coins, there’s a number of things that government can and should do to save taxpayer dollars.”

“The GAO has done its job in identifying waste, overlap, and duplication in government, and now Congress must do its own job to ensure we are using American taxpayers’ money responsibly. Our bill takes action by implementing common-sense reforms to curtail the existing duplication that has already been identified,” Senator Paul said. 

The bill follows the release of an annual report from the Government Accountability Office that examines duplication, overlap, and fragmentation. The report included recommendations to Congress on what it can do to address the issues identified. The bill introduced by Senators Hassan and Paul acts on these recommendations. It will:

  • Close a loophole in federal student loan policy, holding colleges and universities with high student loan default rates accountable—protecting both students and taxpayers.
  • Reduce costs at the Department of Defense by asking the department to consider changes to what can be purchased through the Foreign Military Sales administrative account.  
  • Create long-term plans for the size and configuration of the Strategic Petroleum Reserve to enhance efficiency in coordination with the Department of Energy.
  • Reduce the cost of coin production by millions of dollars each year by changing the metal content of coins.
  • Improve efficiency at the IRS by including a scannable code on tax returns that are prepared electronically but sent to the IRS on paper.

As Ranking Member of the HSGAC subcommittee on Federal Spending Oversight and Emergency Management, Senator Hassan is focused on strengthening fiscal responsibility and eliminating waste, fraud, and abuse. This week, HSGAC approved key Hassan-backed bills to save taxpayer dollars, including the Duplication Scoring Act and the Taxpayer Right-to-Know Act. Earlier this year, Senator Hassan joined in introducing the bipartisan Stopping Improper Payments to Deceased People Act to end erroneous payments the federal government makes to deceased individuals, as well as the Grant Reporting Efficiency and Agreements Transparency Act to modernize the reporting system for recipients of federal grants, helping to strengthen fiscal responsibility by better tracking the use of taxpayer dollars.

Read the text of the bill HERE.

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