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House Lawmaker Expects Quicker Federal Building Auction

Rep. Jason Chaffetz (R-Utah) expects a pilot program to speed up the sale of around 14,000 unused federal buildings, the Washington Post reports.

The Office of Management and Budget and the General Services Administration will keep a rolling list of 15 federal properties to be auctioned off, the Post reported.

The Treasury Department will receive 98 percent of proceeds and the remaining two percent will go to homeless assistance, according to the Post.

According to the Congressional Budget Office, the program would cost around $2 million over the next five years.

The proposal does not cover the Base Closure and Realignment Act, Native American reserves, post offices or other national security properties.

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