The federal government could cut up to 30% of its office space nationwide, saving taxpayers $60 billion in a decade alone.
That’s according to General Services Administration chief Robin Carnahan, who testified on Capitol Hill Tuesday.
“GSA is laser-focused on right-sizing the federal footprint,” Carnahan told the House Committee on Oversight and Accountability. “This is an important moment for the American people to reap billions of dollars in future savings.”
The projections could have serious repercussions on the Greater Washington office market, where the federal government has 47 million square feet of owned space and 44 million square feet of leased space. The local office market is already suffering from record vacancy rates, and pruning the federal footprint would only make matters worse.