Sitting On Our Assets

In order to cut federal spending, eliminate waste, and do more with less, the government must stop sitting on its assets.  A report prepared by the Transportation and Infrastructure Committee's Republican staff identifies billions of dollars in potential savings to the taxpayer through improved management of federal assets and the elimination of waste in agencies and programs under the Committee’s jurisdiction. 

In the 112th Congress, the Committee is using this report, entitled "Sitting On Our Assets: The Federal Government's Misuse of Taxpayer-Owned Assets," as a blueprint for saving taxpayers money and improving government programs.  For example, in order to address the General Services Administration's wasteful mismanagment of federally-owned properties highlighted in the Sitting On Our Assets report and save billions of dollars for taxpayers, Members of the Committee introduced the Civilian Property Realignment Act in the 112th Congress.

Click here to read “Sitting on Our Assets: The Federal Government’s Misuse of Taxpayer-Owned Assets.” 

Click here for the press release announcing the report.

February 10, 2011: Committee hearing on how underused and vacant federal buildings continue to waste taxpayers' money.

Committee hearings and information:

Summary of "Sitting On Our Assets"

The Sitting On Our Assets report proposes cost savings and better utilization of government-owned resources across the entire jurisdiction of the Committee and its six subcommittees.

The U.S. government is the nation’s largest asset holder. It manages 896,000 buildings and structures with a total area of 3.29 billion square feet and more than 41 million acres of land. The General Services Administration, which acts as the federal government’s landlord, owns or leases 9,600 assets and maintains an inventory of more than 362 million square feet of space.

The Department of Transportation owns or leases approximately 69,500 real property assets – including land, buildings, and structures. There are more than 4 million miles of public roads in the United States. Amtrak, heavily subsidized by taxpayers, maintains over $17 billion dollars worth of infrastructure assets throughout its national rail passenger system.

There are approximately 1,700 miles of levees, 650 dams and 383 major lakes and reservoirs, 12,000 miles of commercial inland channels, and 75 hydropower generating facilities all owned by the federal government. The U.S. government also owns waterways leading to 926 coastal, Great Lakes, and inland harbors and 241 individual lock chambers at 195 sites nationwide.

“Sitting on Our Assets” focuses on improving asset management and reducing government waste, including in the following areas:

  • The management of federal real estate and property under the General Services Administration
  • Amtrak’s squandering the potential development of high-speed rail in the Northeast Corridor
  • The Federal Aviation Administration’s management of air traffic control facilities
  • Utilizing innovative financing alternatives, including well-defined private sector participation, for infrastructure projects
  • Expediting the project approval process for infrastructure projects
  • Streamlining reviews of Army Corps of Engineers civil works projects and reducing costs of project permitting
  • Reducing waste in the Federal Emergency Management Agency’s emergency housing program
  • More effective, efficient deployment of baggage screening equipment at airports
  • Improving management of Tennessee Valley Authority assets and charge card program
  • Operation of a leased training center for the National Transportation Safety Board
  • Determining the future of a Coast Guard icebreaker fleet

  

Mica on FOX & Friends

   Sitting on Our Assets: A slideshow

 

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