The PAYGO law holds our nation to the principle that we will pay for what we buy. Unless we bring down the deficits and debt facing our nation, we cannot sustainably invest in important areas like health care, education, and clean energy. PAYGO has a strong bipartisan history, which is why I'm disappointed Republicans chose to put politics ahead of our nation's best interest and oppose it. I look forward to seeing President Obama sign this bill into law very soon.
The President has been a strong supporter of efforts to strengthen fiscal responsibility while helping our economy recover, and the budget he proposed this week balances those two priorities. It includes job-creating incentives, as well as a serious commitment to reduce our deficit through a bipartisan fiscal commission that will set a long-term path to budget balance, and a freeze on non-defense discretionary spending. I share the President's focus on these issues, and am hopeful that my colleagues on both sides of the aisle will give this budget’s jobs and fiscal responsibility agenda the serious consideration it deserves.
Next week, we will consider the Intelligence Authorization Act – legislation that will strengthen our intelligence community's capabilities and increase our security. We will also consider legislation to repeal the special anti-trust exemption for health insurance companies, ending decades-old special treatment that allows the health insurance industry to escape the reach and enforcement of Federal antitrust laws intended to protect consumers.