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Fiscal Responsibility

Over the years, Democrats have shown our commitment to restoring fiscal responsibility by taking actions that have reduced our national deficit while investing in the American people’s priorities.

Over the years, Democrats have shown our commitment to restoring fiscal responsibility by taking actions that have reduced our national deficit while investing in the American people’s priorities. During the 117th Congress, House Democrats delivered the landmark Inflation Reduction Act, which will reduce the deficit by over $300 billion while lowering health care and energy costs and taking action on climate change. In sharp contrast, Republicans jammed their 2017 Trump Tax Scam through Congress without a single hearing, gifting trillions of dollars in unpaid-for tax handouts to the wealthiest Americans and large corporations while leaving our nation with ballooning deficits. They have repeatedly held our economy hostage to benefit their irresponsible ideological agenda, whether creating artificial “fiscal cliffs,” shutting down the government, or bringing our nation to the brink of defaulting on its obligations. With other landmark legislation delivered during the 117th Congress, including the American Rescue Plan, the Bipartisan Infrastructure Law, and the CHIPS and Science Act, Democrats have worked to invest in economic recovery, job creation, all while cutting the deficit in half last year. Democrats are committed to continuing our work to restore sound, long-term fiscal management so future generations can afford to invest in opportunities, secure the American Dream, and ensure workers have the tools to Make It In America.


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This week, the House will consider legislation reestablishing statutory “pay-as-you-go” (PAYGO).
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.
Next week, the House will consider legislation reestablishing statutory “pay-as-you-go” (PAYGO) requirements that helped turn deficits into surpluses during the Clinton Administration.
President Obama called on Congress yesterday to enact pay-as-you-go budget rules to help tame a deficit forecast to top $1.8 trillion this year.
In recent years, America's fiscal story has been one of steady decline -- from record surpluses to record deficits.
Today, the House Budget Committee held a hearing on the Statutory “Pay-As-You-Go” Act of 2009.
Democrats have taken action to restore fiscal responsibility in order to reverse years of reckless spending under the Bush Administration, and restoring PAYGO is a central part of that effort.
I want to thank Chairman Spratt for holding a hearing today to discuss reinstating statutory PAYGO.
I am pleased that we have introduced statutory PAYGO in the House, taking a major step toward restoring a policy that turned deficits to record surpluses.
Today, House Democrats introduced President Obama’s “Statutory Pay-As-You-Go Act of 2009.”