Department of the Treasury

Match Federal records against State's Billions in Unclaimed $$

There are billions of dollars that were turned over to the 50 States by Banks, Employers, Insurance companies, Stock companies, etc. all belonging to millions of Americans who forgot they had this money. Match the Federal records (SSN's) of anyone receiving any Federal benefits (SSA, SSI, VA, Medicaid, Food Stamps, etc.), against those of the 50 States holding this Unclaimed Property we could reunite people with billions of dollars of their own money. They would then have the money to pay their own bills, and make new purchases. This would stimulate the US economy, "without" any tax increases or new Federal spending.

 

In cases where individuals are receiving Federal "needs based payments" the Federal Government would save hundreds of millions of dollars in payments that are no longer needed.

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Idea No. 273