Friday morning, Congressman Doug Collins (R-GA) offered an amendment to House Resolution 527.
The bill, referred to as the Responsible Helium Administration and Stewardship Act, would privatize the Federal Helium Reserves.
Collins, speaking on the House floor, said that this bill is a step in the right direction to help reduce the deficit.
“I am pleased that my colleagues on both sides of the aisle have proposed a common sense bill that speaks to the heart of the free market system”, said Collins. “The congressional budget office estimates that as a result of this bill, $340 million dollars will be returned back to the federal government.”
He says that this bill and amendment has garnered the support of several major businesses in the state of Georgia.
“This bill will spur cutting edge research and development in production of helium, all while bringing transparency to how tax payer dollars are spent”, said Collins. “In my home state of Georgia this legislation draws broad support from job creators such as GE Energy, IBM, Kodiak, Phillips, Siemens, and Texas Instruments.”
The amendment was co-sponsored by Representative Austin Scott (R-GA) and ensures that all excess funds will go towards the deficit and nothing else.
The amendment passed the House of Representatives with a unanimous vote.