CUELLAR, BLUE DOGS UNVEIL STATUTORY PAYGO BILL
Written by admin, Apr 29, 2009, 0 Comments
LEGISLATION WILL HELP TO REDUCE DEFICITS, GIVE PAY-AS-YOU-GO RULES FULL FORCE OF LAW
Washington, D.C. – Congressman Henry Cuellar this week joined other members of the fiscally conservative Blue Dog Coalition to unveil H.R. 2116, the Fiscal Honesty and Accountability Act of 2009, a measure that would strengthen Congress’ commitment to fiscal responsibility and accountability by reinstituting statutory pay-as-you-go (PAYGO) rules. The legislation, which would require both the House and Senate to abide by rules that prohibit growth in deficit spending, has been a cornerstone of efforts to restore fiscal discipline to the federal government.
The bill would give full force of law to House and Senate rules implemented in early 2007 that require new, non-emergency discretionary spending to be fully offset by budget cuts or revenue enhancements. Similar budget rules were instrumental in producing the budget surpluses of the late 1990s and early 2000s.
Congressman Cuellar is an original cosponsor of the bill, which was introduced by Indiana Congressman and Blue Dog member Rep. Baron Hill.
Congressman Cuellar said, “There can be no doubt that the fiscal course America is on is unsustainable. We cannot simply keep spending and spending and charging our bill to future generations. The Fiscal Honesty and Accountability Act is a necessary and important step to cut our budget deficits and restore fiscal accountability.”
He added, “The next step is to pass a budget that deals honestly with the financial problems America is facing, reins in wasteful spending, and puts us on the path toward balanced budgets.”
In his latest radio address, President Obama called on Congress to pass PAYGO legislation like the Fiscal Honesty and Accountability Act, stating that “we need to adhere to the basic principle that new tax or entitlement policies should be paid for.”
The fiscally conservative Blue Dog Coalition was formed in 1995 with the goal of representing the center of the House of Representatives and appealing to the mainstream values of the American public. The Blue Dogs are dedicated to a core set of beliefs that transcend partisan politics, including a deep commitment to the financial stability and national security of the United States. Currently there are 51 members of the Blue Dog Coalition.
