Congressman Cuellar Co-Sponsors Fiscal Responsibility Rules

CONGRESSMAN CUELLAR CO-SPONSORS FISCAL RESPONSIBILITY RULES

Today, Congress passed a robust fiscal responsibility rules package, co-sponsored by Congressman Henry Cuellar, which will to repair the budget deficit and bring deficit spending under control. Currently, the gross national debt is over $8 trillion, which amounts to more than $115,000 for a family of four.

"I co-sponsored this bill because it is time for this all-time high budget deficit to be reversed," said Congressman Cuellar. "We cannot let our children and grandchildren shoulder $8 trillion in national debt."

The bill, which restores Pay-As-You-Go budgeting, prohibits consideration of any bill, amendment, or conference report where the combined effect of provisions affecting mandatory spending (such as Medicare, Medicaid, and Social Security) and revenue would create an even larger deficit over the five-year and ten-year windows. Pay-As-You-Go budgeting, which expired in 2002, paved the way for the balanced budgets of the 1990s and helped bring down the national deficit by $453 billion.

The bill also includes earmark reform, which requires committees to disclose the sponsors of any earmarks included in appropriations and tax or trade legislation. This requires members of Congress to ensure that earmarks will benefit only the public good, and not themselves or special interests.

"The rules affecting fiscal responsibility are vital in giving America the new direction it needs. This is a very important step in repairing the budget, and it must be a top priority," noted Congressman Cuellar.

http://www.house.gov/list/press/tx28_cuellar/fiscalresponsibility07.html