Joyce Remarks at Oversight Hearing on the Economy Act
I’d like to welcome both of our witnesses. Today’s oversight hearing is intended to help us better understand the origins of and the use of the Economy Act since its enactment.
The policy behind the Economy Act is simple. It allows government agencies to order goods or services from other agencies. An agency can utilize the Economy Act when funds are available, if it is in the best interests of the government, another agency can fill the order, and the head of an agency decides the goods cannot be provided as conveniently or cheaply by a commercial enterprise.
The Economy Act provides powerful flexibility that allows government agencies to take advantage of another agency’s expertise, potentially saving taxpayer money and leading to better policy outcomes. These transactions occur all over the government for a variety of purposes and there are substantial benefits.
It is important Congress understand how these agreements work and whether the Act can and should be strengthened. We are always encouraged by ways to save the government money and to utilize the federal government’s vast resources to be more efficient.
From an appropriations standpoint, it is important to understand how Economy Act transactions are being used and impact current agency operations and funding levels. As policy makers, we need to understand the Economy Act’s limitations and its strengths so that Congress can ensure the Economy Act is effective. We want to make sure we support agencies that are undertaking additional work under the Economy Act. I look forward to hearing from our witnesses. I now recognize the Ranking Member.
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