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| HR 70 PAYGO Reinstatement Act | |
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| Tweet Topic Started: 14 Jun 2013, 11:20 AM (524 Views) | |
| Heather Holson | 14 Jun 2013, 11:20 AM Post #1 |
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48 hours for debate
Edited by Heather Holson, 16 Jun 2013, 01:37 PM.
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| Melissa Sanchez | 15 Jun 2013, 07:47 AM Post #61 |
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Madam Speaker, My major concern about this legislation is that there are occasions when deficit spending is called for. My reference in this regard is not stimulus, however, but events such as the Second World War. While I would like to think such will not happen again, a prudent person stays prepared. Therefore, I move to amend the bill by adding the following as Section 4, with all subsequent sections renumbered appropriately: Section 4. Emergency Override The provisions of Section 1 of this legislation, for a specific bill, may be suspended by a 60% vote each of the House and Senate. This shall be referred to as a "PAYGO Override Vote", and must occur to bring the legislation to the Floor of each body for debate. |
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| Melissa Sanchez | 15 Jun 2013, 07:50 AM Post #62 |
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Madam Speaker, I also move to amend the legislation by adding the following to Section 1: 9) All legislation filed after the date of lawful enactment of this act shall include a "PAYGO Analysis" which will note the estimated net effect of the legislation on the Federal Debt, the time frame being covered, and if not readily apparent, an explanation of how the numbers were derived. I finally yield, but reserve the balance of my time. |
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| Matt Urbana | 15 Jun 2013, 08:46 AM Post #63 |
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Madam Speaker, I second the second amendment offered by the gentlelady from Florida. I also move to amend as follows, in place of her first amendment:
It is my thought that any reasonable proposal to increase the deficit, such as to engage in the type of fiscal policy advocated by Keynes, would command enough support from both parties that such an override would easily pass. That said, I would note that deficit spending in times of economic downturn has, in the past, tended to lead to permanent deficits. I yield. |
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| Landry | 15 Jun 2013, 02:43 PM Post #64 |
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Winter is Coming to the Red States
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Madam Speaker, I second the motion to extend, and the gentlelady's first amendment and I yield. |
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| Heather Holson | 15 Jun 2013, 02:52 PM Post #65 |
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The motion to extend and amend is recognized. 24 hours for voting: Motion to Extend, Sanchez 1, Sanchez 2. |
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| Landry | 15 Jun 2013, 03:50 PM Post #66 |
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Winter is Coming to the Red States
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Aye to Extend Aye on Sanchez I Aye on Sanchez II |
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| AK3 | 15 Jun 2013, 04:53 PM Post #67 |
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Aye to extend Aye on Sanchez I Nay on Sanchez II |
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| Daniel Hernandez | 15 Jun 2013, 04:59 PM Post #68 |
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Wielder of the Gavel
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Rick Thomas Aye to Extend Aye on Sanchez 1 Aye on Sanchez 2 |
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| Brenninger | 15 Jun 2013, 04:59 PM Post #69 |
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#Swaggy
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Aye to extend Aye on Sanchez I Nay on Sanchez II |
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| Jack Bentley | 15 Jun 2013, 10:09 PM Post #70 |
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Aye to Extend Aye on Sanchez I Aye on Sanchez II |
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| Vissering | 15 Jun 2013, 10:21 PM Post #71 |
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I'm radioactive.
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Aye to Extend Aye on Sanchez I Aye on Sanchez II |
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| Matt Urbana | 15 Jun 2013, 10:48 PM Post #72 |
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Aye to extend. Nay on Sanchez I. Aye on Sanchez II. |
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| Edward Kensington | 16 Jun 2013, 02:21 AM Post #73 |
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Madame Speaker, The Congresswoman from Florida should review the facts of the matter. Those surpluses had little to do with PAYGO and everything to do with stronger than projected economic growth which culminated in increased tax revenue and collection. The CBO itself was projecting much, much smaller fiscal surpluses than those that had materialized and that's because tax revenue was much higher than had been anticipated. The strong economy, supported my innovations in IT and the increase in capital gains related to IT, provided those large surpluses. Let's not connect the wrong dots of cause and effect.
So, in other words, the CBO projected a budget deficit in 1997, a year before PAYGO was instituted. Strong economic growth actually allowed us to move toward balance a full year before PAYGO was even implemented.
We would have had large budget surpluses without PAYGO because the economy had performed much better than anyone at the CBO or elsewhere had envisioned.
This information was provided by the Federal Reserve Bank of San Francisco. Read the full report here. Fed San Francisco. Instead of handcuffing ourselves: We need to be overhauling our anti-growth tax code, modernize and repair our infrastructure, invest in education and labor training, invest in federal science and research and look toward long-term reforms of SSI and Medicare to better manage our long term fiscal situation. We need economic growth and job creation. We don't need more shortsighted Austerity. Edited by Edward Kensington, 16 Jun 2013, 02:39 AM.
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| Melissa Sanchez | 16 Jun 2013, 10:51 AM Post #74 |
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Aye on vote to extend. Aye on Sanchez 1. Aye on Sanchez 2. |
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| Patrick Callaghan | 16 Jun 2013, 10:55 AM Post #75 |
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New England Republican >:D
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Aye to Extend Aye on Sanchez 1 Aye on Sanchez 2 |
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| Heather Holson | 16 Jun 2013, 01:36 PM Post #76 |
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The motion to extend is carried as are the motions to amend. 48 hours shall be added to the debate and this bill shall be amended. Debate continues. |
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| Call | 16 Jun 2013, 01:39 PM Post #77 |
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I like potatos
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Aye to Extend Aye on Sanchez I Aye on Sanchez II |
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| Melissa Sanchez | 17 Jun 2013, 07:25 AM Post #78 |
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Madam Speaker, I rise to a point of Information. Who does Mr. Kensington represent? I yield. |
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| Ambrose Griffith | 17 Jun 2013, 04:41 PM Post #79 |
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Aye to all three. |
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| Anthony Rifenburg | 17 Jun 2013, 05:21 PM Post #80 |
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A Personal Campaign Machine - The Frank Underwood of VUSA
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Aye to Extend Aye to Sanchez I Aye to Sanchez II Edited by Anthony Rifenburg, 17 Jun 2013, 05:30 PM.
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