The House Committee on Oversight and Government Reform ramped up the effort to rid the federal government of 50% of its real estate holdings and save billions of dollars in the process during a subcommittee hearing earlier this month.
The government owns an estimated 277,000 buildings totaling 420 million square feet of office space. Yet it has no idea of how much of it is being used or what it's worth, according to reports issued by the Government Accountability Office (GAO), which since 2003 has included managing federal real property on its high-risk list.
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