S 945

112th CONGRESS
1st Session

S. 945

TTo provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange ActTo provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act.

IN THE SENATE OF THE UNITED STATES

May 11, 2011

Mr. COBURN (for himself and Mr. WARNER) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs


A BILL

To save at least $5,000,000,000 by consolidating some duplicative and overlapping Government programs.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. CONSOLIDATING UNNECESSARY DUPLICATIVE AND OVERLAPPING GOVERNMENT PROGRAMS.

    Notwithstanding any other provision of law, not later than 150 days after the date of enactment of this Act, the Director of the Office of Management and Budget shall coordinate with the heads of the relevant department and agencies to--

      (1) use available administrative authority to eliminate, consolidate, or streamline Government programs and agencies with duplicative and overlapping missions identified in the March 2011 Government Accountability Office report to Congress, entitled `Opportunities to Reduce Potential Duplication in Government Programs, Save Tax Dollars, and Enhance Revenue' (GAO-11-318SP) and apply the savings towards deficit reduction;

      (2) identify and report to Congress any legislative changes required to further eliminate, consolidate, or streamline Government programs and agencies with duplicative and overlapping missions identified in the March 2011 Government Accountability Office report to Congress, entitled `Opportunities to Reduce Potential Duplication in Government Programs, Save Tax Dollars, and Enhance Revenue' (GAO-11-318SP);

      (3) determine the total cost savings that shall result to each agency, office, and department from the actions described in paragraph (1); and

      (4) rescind from the appropriate accounts the amount greater of--

        (A) $5,000,000,000; or

        (B) the total amount of cost savings estimated by paragraph (3).

END