Majority Leader Steny Hoyer Endorses Long-Term Fiscal Reform Commission Plan

Press Release

MAJORITY LEADER STENY HOYER ENDORSES LONG-TERM FISCAL REFORM COMMISSION PLAN

In a speech this afternoon at the National Press Club, House Majority Leader Steny Hoyer called for a bipartisan commission to tackle long-term fiscal reform efforts. Singling out proposals by Congressmen Jim Cooper (D-TN) and Frank Wolf (R-VA) and Senators Kent Conrad (D-ND, Chairman, Senate Budget Committee), Judd Gregg (R-NH, Ranking Member, Senate Budget Committee) and George Voinovich (R-OH), Hoyer said Congress should move forward with such a task force to require the legislative and executive branches to address the nation's long-term fiscal crisis before it's too late.

"It is imperative that we get serious about our long-term fiscal challenges," said Hoyer, according to remarks as prepared for delivery. "While I would like to believe that Congress could address these issues through the regular legislative process, the experience of recent years suggests that this is extremely difficult in the current political environment.

"Thus, I support the Conrad-Gregg and Cooper-Wolf proposals in concept, although I have concerns about several specific provisions."

In response, Cooper said: "I appreciate the Majority Leader's continued leadership on fiscal discipline and am pleased he has endorsed our plan. This is truly a bipartisan idea designed to preserve the social safety net for our children and grandchildren. Congressman Wolf and I will continue to solicit support from across the political spectrum, and we hope the full House will act soon to save our country from financial ruin. Every day we wait, the looming crisis grows nearer and more severe. Only bipartisan leadership can prevent it."

Wolf, who originally introduced the SAFE Commission bill in January 2007, added: "I am pleased Mr. Hoyer has supported this legislation. I would also like to note that the Republican leader, Mr. Boehner, has been on my original bill since March."

The Cooper-Wolf SAFE Commission Act, H.R. 3654, creates a 16-member bipartisan commission of executive and legislative branch members and outside appointees tasked with developing a long-term plan to balance the nation's books. If Congressional leaders fail to introduce their own proposal, the SAFE Commission's legislative proposal is automatically brought to the House floor for a vote. If passed, it is sent to the Senate for similarly expedited consideration.

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