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Last week, Senator Rubio introduced the Decrease Spending Now Act with Rep. Tom Price (R-Ga.) to rescind $45 billion in unspent taxpayer dollars that are currently sitting in federal coffers. The bill, which requires a report to Congress and the Secretary of the Treasury on these efforts within 60 days, has gained several notable co-sponsors to this fiscally-responsible legislation, including Senators John McCain (R-Ariz.), Mike Johanns (R-Neb.), David Vitter (R-La.), Orrin Hatch (R-Utah) and Mike Lee (R-Utah).

The need to confront our debt crisis is becoming more apparent each day. While the President’s “debt speech” at George Washington University on Wednesday showed that he is more interested in re-election than actually tackling our debt, this bill is simply a step in the right direction toward curbing spending and paying down our debt.

“With a $14 trillion national debt and a $1.6 trillion deficit, we must come to the realization that we cannot continue to spend money we don’t have. This bill will mark an important step forward in saving taxpayer dollars. Not only should we cut spending but we should rescind money that remains unspent by federal agencies. The American people can no longer afford a government that spends money needlessly,” said Senator Rubio.