Federal Building Sales: Deficit Reduction and Agency Consolidation.
This Act mandates the sale of six large, underutilized Federal buildings in Washington, D.C., to generate revenue. Federal agencies must vacate and relocate within 18 months, and the net proceeds from the sales will be deposited into the Treasury to reduce the national deficit. The sale is strictly prohibited to foreign entities, and the properties are exempt from requirements to first offer them for homeless assistance.
Key points
Six major Federal buildings in Washington, D.C., must be sold at fair market value to generate funds for the national budget.
Net proceeds from the sales will be used specifically for reducing the national deficit.
The sale is prohibited to any foreign person or entity, ensuring domestic ownership.
Agencies affected by the move are forbidden from purchasing or leasing any new property as part of this consolidation effort.
Introduced
Citizen Poll