U.S. Sen. Russ Feingold unveiled his "Control Spending Now Act" Tuesday, including more than 40 provisions the Middleton Democrat argues will reduce the federal deficit and curb wasteful spending.

The bill would also institute reforms to the earmarking process, agricultural subsidies and "corporate welfare." Feingold also called out a number of cost-saving government measures, including returning unspent Wall Street bailout money, canceling a C-17 aircraft program, allowing the FDA to charge businesses for failed inspections, and eliminating a radio and TV signal to Cuba that goes largely unused.

"A consistent message I hear from Wisconsinites -- regardless of party -- is the need to reduce wasteful spending," Feingold said in a statement. "With our nation facing record deficits, Americans are rightly concerned that their children and grandchildren will be forced to shoulder this burden."

Feingold added that he doesn't expect all the provisions to pass in one comprehensive package, instead arguing that "Congress must get the message that it needs to reform its spending habits."

National Republican Senatorial Committee spokesman Colin Reed said Feingold's bill was inconsistent with his vote in favor of federal stimulus legislation earlier this year.

"With Halloween fast approaching, it appears Russ Feingold has decided to masquerade this year as a deficit hawk," Reed said. "Unfortunately for Wisconsin taxpayers, Feingold's costume is more trick than treat, as his newfound sense of fiscal responsibility comes in the same year that he helped push the federal deficit to a whopping $1.4 trillion with his votes for President Obama's trillion-dollar stimulus bill and bloated budget."

A Feingold spokesman responded that the senator has "a long history of fiscal responsibility," noting his vote against an omnibus appropriations bill this spring.