House passes Welch fiscal responsibility legislation
The Statutory Pay-As-You-Go Act of 2009 (H.R. 2920) puts the force of law behind current House rules requiring lawmakers to pay for new programs, either by cutting spending or increasing revenue. During the 1990s when similar rules were enacted, PAYGO helped turn massive deficits into record surpluses.
Upon taking office in 2007, one of Welch's first votes was to reestablish PAYGO in House rules. The Statutory Pay-As-You-Go Act takes the next step, giving those rules the force of law and helping to rein in record deficits. Welch joined President Obama at an East Room press conference in June when the president unveiled the legislation.
Welch spoke in favor of the Statutory Pay-As-You-Go Act today on the House floor. Click here to watch his speech.