[Congressional Record Volume 155, Number 111 (Wednesday, July 22, 2009)]
[House]
[Page H8501]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




      PAYGO LEGISLATION WILL HELP US MOVE FROM DEFICIT TO SURPLUS

  (Ms. WATSON asked and was given permission to address the House for 1 
minute.)
  Ms. WATSON. Mr. Speaker, the House will be taking up statutory PAYGO 
legislation which will restore the policy that led from deficits to 
surpluses under the Clinton administration. Statutory PAYGO is a 
necessary step to restore fiscal discipline and begin bringing down the 
deep deficits that face our Nation. Without reducing the deficit, we 
won't be able to invest in vital priorities, including health care, 
education and clean energy.
  The bill on the floor this week requires all new policies that either 
reduce revenues or expand entitlement spending be offset over 5 and 10 
years. Discretionary spending is not subject to PAYGO and exceptions 
can be made for emergencies. We also take into account the political 
reality that several policies will continue, as in past Congresses, and 
allow them to be extended without offsets. Medicare physician payments, 
alternative minimum tax, middle class tax cuts and the current estate 
tax rates. I hope that all Members will support our PAYGO bill.

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