GAO Report Identifies Billions In Potential Government Savings

The U.S. Government Accountability Office (GAO) released its 14th annual report on Monday highlighting new opportunities for the federal government to save billions of dollars by reducing overlap, duplication and fragmentation across various agencies and programs. The report outlines 112 measures in 42 topic areas that Congress and federal agencies could implement to save money and improve government efficiency.

“This year’s report provides Congress and federal agencies with new opportunities to save federal dollars, increase revenue, and improve the efficiency and effectiveness of a wide range of federal programs,” said Gene L. Dodaro, Comptroller General of the United States and head of the GAO. He added that by addressing the report’s recommendations and open suggestions from past GAO work, the federal government could potentially save tens of billions of dollars.

Some notable suggestions in the report include ensuring the Defense Counterintelligence and Security Agency’s working capital fund cash balance remains within its operating range potentially saving federal customers hundreds of millions of dollars through reduced prices. The report also recommends that Congress and the Internal Revenue Service take action to improve sole proprietor tax compliance which could increase revenue by hundreds of millions of dollars per year.

Since 2011, Congress and executive branch agencies have made strides in addressing many of the 2,018 matters and recommendations identified by GAO resulting in approximately $667.5 billion in financial benefits.