[Congressional Record Volume 140, Number 25 (Wednesday, March 9, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: March 9, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]


                              {time}  1210
 
         INTRODUCTION OF THE FISCAL RESPONSIBILITY ACT OF 1994

  (Mr. SCHAEFER asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. SCHAEFER. Mr. Speaker, President Clinton may be content with a 
deficit of only $170 billion next year, but the taxpayers are not. To 
put Congress on the path toward a balanced budget, I have offered a 
substitute amendment to the budget resolution that orders another round 
of deficit reduction, under a reconciliation process.
  The Schaefer substitute orders House committees to find $560 billion 
in savings over the next 5 years--without tax increases. My substitute 
is the only budget resolution that has the strong enforcement mechanism 
needed to achieve substantial savings.
  Best of all, the reconciliation bill is already written: H.R. 3958, 
the Fiscal Responsibility Act of 1994. This bipartisan package of 150 
spending cuts, which I introduced last week, specifies line-by-line, 
program-by-program, how to achieve the savings required by the Schaefer 
budget substitute. I encourage my colleagues to support real deficit 
reduction by voting for the Schaefer substitute.

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