Rep. Scott Garrett (R-NJ), senior Member of the House Budget Committee and Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, issued the following statement regarding H.R. 325, a bill to ensure the complete and timely payment of the obligations of the United States Government:
"Today, I joined my colleagues in the House to pass H.R. 325, commonly referred to as the "No Budget No Pay' bill. This bill is just the first step, of many, that must be taken in the coming months to put our country on a path to prosperity. I welcome our House Leadership's--Speaker Boehner, Leader Cantor, and Chairman Ryan--commitment to the next steps: advance a 2014 budget that will balance within 10 years, stand firm on automatic spending cuts unless we get comparable spending cuts and reforms to replace them, and seek dollar-for-dollar spending cuts in the next round of debt ceiling talks in May.
"Hardworking American families and small businesses have to budget, yet Senate Democrats have failed to pass a budget--the most basic responsibility of governing--for almost four years. Today's bill will require the House and Senate each to pass a budget, and Member pay will be withheld if they fail."