House Passes Kosmas-Sponsored "Pay-As-You-Go" Legislation

Press Release

House Passes Kosmas-Sponsored "Pay-As-You-Go" Legislation

Bill Will Make Fiscally Responsible Budget Rules into Law

Today, Congresswoman Suzanne Kosmas, a member of the fiscally responsible New Democrat Coalition, applauded the passage of the Statutory Pay-As-You-Go (PAYGO) Act by the U.S. House of Representatives. The measure, cosponsored by Congresswoman Kosmas, will turn PAYGO budget rules that have been in effect since 2007 into law with enforceable consequences.

The bill requires Congress to offset new policies that expand entitlement spending or reduce revenues with savings elsewhere in the budget. If the net effect of all legislation enacted during a session of Congress increases the deficit, there would be an across-the-board reduction in certain mandatory programs.

"As we continue working to improve our economy, we must take steps to ensure long-term fiscal responsibility," said Congresswoman Kosmas. "We cannot afford to put the burden of our debts on the backs of future generations, and making PAYGO rules into law is an important step that will help rein in spending and reduce budget deficits."

Congresswoman Kosmas is committed to fiscal responsibility and to reining in wasteful spending. She successfully fought to block the scheduled 2010 pay raise for Members of Congress, voted against the original House budget, which contained high levels of non-security discretionary spending, and cosponsored legislation to audit the Federal Reserve to increase transparency of government spending.

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