Spend It Or Lose It
“Spend it or lose it” is the pervasive practice within federal agencies to use up every last dollar within their budgets by the end of each fiscal year in the hope of getting an even bigger budget the following year.
When testifying to Congress about the outrageous conference spending, acting IRS commissioner Danny Werfel acknowledged that the scramble to spend taxpayer funds before they lapse is a “major problem.” But “spend it or lose it” isn’t just confined to the IRS.
As Rep. Jackie Speier, D-Calif., notes, “The IRS is just one example of what’s going on in every agency in the country in the federal government when they’ve got money at the end of a fiscal year and they don’t want to lose it, so you use it.”
But how do we fix the “spend it or lose” it problem?
We must demand Congress and President Obama provide greater accountability, transparency and oversight into the year-end federal budget process. Sign our petition to lawmakers urging them to stop “spend it or lose it!”Sign the Petition