House to Act on Statutory “Pay-As-You-Go” Legislation

On June 14, President Obama transmitted legislation to Congress establishing a statutory “pay-as-you-go” (PAYGO) requirement, and Majority Leader Steny Hoyer introduced the legislation as H.R. 2920. This week, the House will consider this legislation reestablishing PAYGO, a principle that helped turn deficits into surpluses during the Clinton Administration. With the deep deficits our nation is confronting, it is vital for House Democrats to show our strong support for reinstating the budget discipline of PAYGO, based on the simple principle of paying for what we buy.