WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after the House and Senate reached agreement on a statutory “pay as you go” amendment, which was filed in the Senate this afternoon by Senate Majority Leader Harry Reid (NV):
“After months of working with the White House and the Senate, I am pleased that we are closer than ever to putting in place fiscal responsibility measures that will help get our nation back on the path to fiscal balance. Restoring the ‘pay as you go’ principle into law that led to surpluses in the 1990’s will stop our debt problem from becoming deeper. It has received bipartisan support in the past, and I hope that it will receive bipartisan support in the Senate and the House.
“The President’s support for paygo, endorsement of a fiscal commission and his commitment to fiscal responsibility have been vital in this process, and I look forward to his continued engagement. I hope Republicans will choose to be a part of offering constructive solutions for addressing the fiscal challenges facing our nation.”