Fattah Calls for Economic Competitiveness Analysis of New Legislation

WASHINGTON, March 29, 2012 /PRNewswire-USNewswire/ -- Congressman Chaka Fattah (D-PA), a member on the House Appropriations Committee, today introduced legislation requiring the non-partisan Congressional Budget Office to evaluate the affect of all new legislation as it relates to America's leadership position in the world.

In a letter to the White House, Fattah wrote that "Within the current climate of economic uncertainty, there is significant pressure for policymakers to impose indiscriminate fiscal austerity on the federal budget with little regard to the potential disastrous consequences severe fiscal constraints to the federal budget would create. While addressing the national debt and deficit crisis is essential to restoring financial stability and encouraging economic growth, it must not come at the expense of undermining investment in our nation's economic future."

In introducing the measure, the "Reinvesting and Ensuring America's Ability to Lead Act of 2012", an amendment to the Congressional Budget Act of 1974, Fattah said, "The bedrock of the nation's economic strength and future growth will be directly attributed to the robust Federal investment in critical areas such as education, science, technology, engineering and mathematics."

A recent report from the National Economic Council stated the nation must "Create the jobs and industries of the future by doing what America does best – investing in the creativity and imagination of our people. To win the future, we must out-innovate, out educate, and out-build the rest of the world."

For that reason, according to Fattah, "Congress must provide the means to evaluate legislative worth beyond its impact to the annual budget. This bill meets that goal."

SOURCE Office of Congressman Chaka Fattah

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