House Looks to Stop $500 Million Taxpayer Funded Transfer Overseas

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Posted by Justin Sykes on Thursday, July 7th, 2016, 10:08 AM PERMALINK

The House Appropriations subcommittee on State, Foreign Operations, and Related Programs approved a State Department spending bill this week that would prohibit the use of funds for the U.N. Green Climate Fund (GCF). Such prohibition would stop $500 million in taxpayer dollars from being sent overseas as part of President Obama’s unilateral commitment to fund the GCF. 

As part of the United Nations Framework Convention on Climate Change (UNFCCC) in Paris last year, the GCF fund was created with the goal of transferring funds from wealthy nations to developing nations to further the commits under the agreement. As part of the GCF, President Obama committed to helping raise $100 billion annually in funding, without the consent of Congress, and pledged $3 billion in U.S. taxpayer dollars to the GCF.

The first installment of President Obama’s self-serving, ideological commitment came in March when $500 million was handed out to the GCF. Obama has since requested an additional $500 million as part of the second payment for 2017. Last week, the Senate Appropriations Committee approved an amendment that would allow for the $500 million requested transfer to the GCF. 

Thankfully, lawmakers on the House side realize the perverse nature of President Obama’s commitment to send millions, and eventually billions, in taxpayer’s hard earned dollars overseas at a time when such funds are desperately needed at home. For FY 2016 U.S. public debt totals $22 trillion, and while $3 billion is a relative drop in the bucket, there is no reason those funds should not be used domestically for the benefit of U.S. taxpayers.

 

Photo credit:  Pictures of Money

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