Most Americans wildly overestimate foreign aid as a percentage of the federal budget, which makes it unsurprising that U.S. foreign aid programs once again find themselves at the center of the debate as the budget battles heat up in Washington. Policymakers are seemingly divided into two camps: those who want to deeply cut foreign aid and those who want to maintain spending levels and make programs work more effectively.
But there is a third way that makes a great deal of sense. It saves taxpayers billions of dollars and will make aid programs more effective and more likely to produce lasting results.
This brief details how the new Congress could save more than $500 million annually by eliminating unnecessary regulations currently in place that are incredibly wasteful, anticompetitive, and make it harder to carry out effective development programs abroad.