WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after the Senate Budget Committee held a hearing on bipartisan proposals to increase long-term fiscal stability:
“Today’s hearing held by Chairman Conrad and Ranking Member Gregg was an acknowledgement that the deficit is a serious concern for all Americans. I believe action must be taken to rein in our mounting deficits and debt.
“I have endorsed the idea of creating a fiscal commission and am encouraged by the increased interest in the proposal. Several members of the Senate have suggested that legislation increasing the debt limit be accompanied by the creation of such a commission to spur Congress to make the hard choices necessary to return our nation to fiscal health.
“While failing to increase the debt limit is not an option, the need to raise the debt limit should be accompanied by a serious discussion about possible actions we can take to deal with our fiscal challenge. Putting in place a mechanism to deal with our long-term fiscal shortfalls, as well as legislation restoring statutory PAYGO, should be a part of that discussion. I look forward to working with my colleagues in the House and Senate on these and other actions to deal with our fiscal challenges.”