Heinrich-Cosponsored PAYGO Bill Cleared For President's Signature

Press Release

Today, U.S. Representative Martin Heinrich (NM-1) took a critical step towards restoring our nation's fiscal health by voting for statutory pay-as-you-go, or PAYGO, legislation, which passed the House of Representatives by a vote of 233 to 187. Reinstating the budget discipline of PAYGO is based on the simple principle of paying for what we buy.

Cosponsored by Rep. Heinrich, the PAYGO bill restores fiscal responsibility and ensures government lives within its means. The bill now goes to President Obama for his signature.

"Working families and small businesses across central New Mexico face difficult budgeting decisions. When it comes to the federal budget, we owe it to them to spend within our means and without unreasonable borrowing," said Rep. Heinrich in a floor statement today. "Used in the 1990s, PAYGO helped turn massive deficits into record surpluses. But that policy was abandoned by the Bush administration. After not paying for two wars, two tax cuts, and a new entitlement program we now face a growing deficit. I am an original cosponsor of PAYGO legislation because we need to get this deficit under control. For the sake of our children, and for our financial future, we must reinstate fiscal discipline in Washington."

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